Gold Nearing Record High as Dollar Sinks due to Trump’s Policies

As the U.S economy reels from the impact of former President Trump’s policies, gold prices are edging closer to an all-time high.

The erratic nature of the former administration’s policies, particularly those related to trade tariffs, had set the stage for economic uncertainty. This led many investors to pour into haven assets, causing gold prices to soar.

At the time of writing, Gold (XAU) has breached the $1,800/oz mark and continues its upward momentum, casting a promising light on the precious metal’s outlook. Market participants now eagerly await the breach of the record high of over $2,000/oz.

However, the weakening dollar also plays a crucial role in the gold price rally. As the dollar dwindles, it typically boosts the value of commodities priced in the greenback, like gold.

Investors will be keeping a keen eye on global geopolitical factors and major economies’ recovery pace, which are set to play a pivotal role in influencing gold prices in the near term. Read More