The path towards much higher gold prices is primarily a function of a declining U.S. dollar, but the Federal Reserve is stuck in a hard place right now, said Dan Oliver, founder of Myrmikan Capital.
On one hand, low interest rates are accommodative for gold, but if the Fed keeps low for too long, inflation will run out of control. On the other hand, if the Fed raises rates in response to higher inflation, the financial system may just “blow” up, Oliver said.
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