Gold and oil continue to dig lower

The continuing strength of the dollar, following tensions in Spain, has led to further losses for gold and oil. Gold traded close to its lowest for the past two months, with the decline accelerated at the price of oil.
The noble metal lost $9.1 yesterday, or 0.7% to a level of $1 275.70 per ounce. This was the lowest level of trading since August 8.
The decline in the metal was largely predetermined after new record highs for US indices yesterday, in light of the expected massive tax reform by President Trump.
The oil price also marked serious losses. The Brent is traded at $56.40 and US crude at $50.3 a barrel.