Catalysts Behind Recent Weakness In Gold (/GC) And Potential Copper (/HG) Tax

Normal seasonality is returning to the gold (/GC) market, says Everett Millman of Gainesville Coins. The summer months are a period of weaker gold demand, he adds. From peak to trough, the price of gold has dropped more than 6% and the U.S. Dollar (/DX) has risen about 3 1/2 %, he explains. He discusses the relationship between interest rates (TNX) and gold. The building of residential homes accounts for about one-third of all copper (/HG) usage, he says. He explains Chile is the largest producer of copper, and they are debating a bill on raising the taxes on the countries copper miners.