Gold breaks $3400 for the first time. Five things driving it higher

Gold is now up $75 on the day to a fresh record just above $3400.

The monthly chart is harrowing as it goes parabolic.

Here is what’s driving it:

1. The global world order is breaking down
2. The market wants safety from the US dollar
3. Global economic growth indicators are worsening
4. Trump is threatening the independence of the Fed
5. AI/robotics are ultimately deflationary and central banks will need to cut, particularly if the trade war cripples economies

With the rally today, gold is up nearly 15% since April 7.

This article was written by Adam Button at www.forexlive.com.



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