Strategist Advises Buying Gold and Selling U.S. Dollars

Tim Hayes, chief global investment strategist at Ned Davis Research, has downgraded the U.S. dollar and upgraded gold due to investors betting on a soft landing scenario for the U.S. economy. The U.S. dollar index has fallen below its 50-day moving average, while gold futures have risen above their averages, signaling a bullish trend for gold. Ned Davis's short-term technical composites also show a buy signal for gold and a sell signal for the dollar. In a soft landing scenario, bond yields tend to trade sideways or lower, benefiting gold.