Gold is posting another strong day in what’s been a nearly non-stop rally to start the year. It’s up $27 to a new record at $2841.
All the trade uncertainty has been a big tailwind for gold, which started the year at $2621. That’s an 8% rally barely a month into the year following strong gains in 2024.
gold daily
We’re getting close to the point where $3000 begins to act as a magnate but we’re also getting close to the end of the early-year seasonal tailwind.
The real trigger for gold from here would be anything that weakens the US dollar. It’s incredible that this bull market for gold has unfolded entirely during a bull market for the US dollar.