Global Interest Rates: Higher rates generally increase borrowing costs, potentially slowing economic growth and impacting gold's appeal, decreasing MNY.TO's value. Conversely, lower rates can boost gold prices.

US Dollar Strength: A stronger US dollar typically makes gold less attractive to investors holding other currencies, potentially lowering MNY.TO's price. A weaker dollar can increase demand and prices.

Inflation Expectations: Gold is often seen as an inflation hedge. Rising inflation expectations may drive demand for gold, increasing MNY.TO's price. Declining expectations could decrease demand.

Geopolitical Risk: Uncertainty due to geopolitical events (wars, political instability) can increase safe-haven demand for gold, boosting MNY.TO. Stability might reduce demand.

Market Sentiment: Overall investor sentiment towards risk affects gold demand. Risk-averse sentiment can increase demand, raising MNY.TO. Risk-on sentiment might decrease demand.

Central Bank Policies: Central bank gold purchases or sales influence gold supply and demand, affecting MNY.TO's price. Supportive policies can boost prices; restrictive policies can decrease them.

Demand for Physical Gold: Increased demand for gold jewelry, bars, and coins can impact the underlying gold price, thus affecting MNY.TO. Decreased demand can lower prices.

Gold Mining Supply: Changes in gold production from mining operations can affect supply levels, impacting the gold price and subsequently MNY.TO. Increased supply may lower prices; reduced supply may raise them.