A number of factors could push gold above $1,250 an ounce, including a weaker U.S. dollar and a more dovish stance from the Federal Reserve, said Martin Murenbeeld, president of Murenbeeld & Co. “The dollar [could roll] over, which I think is the end game of the Trump program, [so] that can happen. The Fed can suddenly pause. Let’s say that I’m wrong on the equity markets. Let’s say that we’re actually looking at the beginnings of a slippery slope into a recession, so then the Fed pauses, maybe it even cuts. I think that’s reaching a bit, but the Fed could pause for a minute, that would change the dynamics of the gold market,” Murenbeeld told Kitco News on the sidelines of the Mines & Money conference in Toronto. Murenbeeld noted that the Trump tariffs have had an “ironic” effect of actually strengthening the dollar.
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