The push higher today sees gold come up to its highest since the end of April, where the upside move stalled after clipping the $3,500 mark.
And with Trump also threatening the Fed's independence, the preference to stick with the dollar and US assets generally just isn't there. In turn, that is helping to see the likes of gold shine even brighter amid other factors such as central bank buying and with it being a solid hedge against potential stagflation risks.
Looking at the chart above, the April high at $3,500 is the big one to watch now. A break there will open up the floodgates for further gains after having trended more sideways in the past three months or so.
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