This Data Point Suggests Gold Stocks Might Crush Wall Street's Q3 EPS Estimates

This Data Point Suggests Gold Stocks Might Crush Wall Street's Q3 EPS Estimates

Very quietly, gold has been a shining star in 2017. Though the lustrous yellow metal is actually lower by 3% from where it stood a year ago, and down 2% over the past month, it's up by more than $130 an ounce, or more than 11%, from where it began the year as of Sept. 27. 

Why are investors buying into gold, you wonder? A big reason has been the steady decline of the U.S. dollar. Usually the dollar declines when the outlook for U.S. growth gets murkier, or recently as a result of legislative stagnation in Washington. Since the dollar and gold tend to have an inverse relationship, investors, in response to seeing their cash decline in value relative to other currencies, will occasionally seek the safety of gold. As a finite resource, and having been used as a form of currency for many centuries, gold is viewed as the ultimate safe-haven investment.

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Source: Fool.com