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To the bewilderment of many investors, the U.S. dollar has remained bullish in the face of dramatically higher gold prices.

“How could that be?” a subscriber recently asked.

In the clip above from The Macro Show, Hedgeye Macro analyst Christian Drake dives into this relationship. He explains the current market and policy conditions that have driven both currencies higher.

Gold Up. Dollar Up. Is One Of Them Wrong? - the macro show