Gold is still surging despite strong dollar due to QE hopes

The dollar index has been up for about a week now, though it's slightly down today. So why is gold, which usually moves opposite the dollar, still up? Partly due to recession fears, I'm sure. Gold always offers a safe haven in uncertain economic times, and Fed rate cuts are always bullish for gold. Partly it's sheer momentum, with investors unwilling to exit a bet that's been a winner since May. And partly it's anticipation of further rate cuts. Today the news for gold is good, with President Donald Trump griping about the dollar's strength and threatening to intervene in markets to weaken the currency. The Fed may embark on quantitative easing (QE), which should be bullish for gold. Kitco is predicting that the gold spot price could rise to $1600 in 2020 due to QE.