The price of gold will benefit no matter what President Donald Trump decides to do about tariffs on steel and aluminum, Jeffrey Christian, CPM managing partner, said on the sidelines of the Prospectors & Developers Association Conference in Toronto.
"If there are not tariffs, it's a positive for gold because it's another sign of the degree to which this government is not a government," Christian said. "If there are tariffs it's bad for the economy. It has inflationary implications and it means lower demand for a lot of things and it also means greater volatility and uncertainty on a global economic and financial basis. Which is good for gold."
Christian described the tariffs as a "bad idea" that could ignite a "devastating" trade war and drive investors to safe haven assets.
