The dollar has rallied approximately 5 percent across the board. Meanwhile, the dollar prices of gold and oil have barely budged.
30-day crude is currently trading at approximately $91.25, in today’s dollars. 30-day gold futures are trading at $803. After adjusting for the dollar’s recent strengthening, gold’s value exceeds the $836 high, set when the dollar was weakest. (In terms of mid-November dollars, gold is now trading at over $840/oz.) Similarly, oil is trading at approximately $96 in “weakest” dollars.