Election And Gold Price

At the beginning of august 2020 gold prices soared above 2 000 per ounce for the first time.

Election and gold price. Election is taking place on nov. Will gold prices drop in 2020. The effect of the election on the price of gold is a topic of passionate debate.

But in 2019 as the presidential election drew closer the price of gold took off. With both the trump and biden agendas estimated to cost between 5 trillion and 5 6 trillion over the next decade both plans would provide substantial tailwinds for the long gold trade he said. Last year the price started at around 1 290 oz.

Presidential elections suggests little evidence of a clear relationship between the gold price and the election outcome based on party affiliation. It s generally understood that the value of the us dollar correlates with the price of gold. And ended at 1 530 oz a difference of more than 18.

3 with president donald trump and former vice president joe biden battling for the lead position. In the non election years 2017 and 2018 the price of gold remained fairly steady. At the same time the price of gold has been incrementally increasing since november 2016 it s risen from us 1 183 per ounce at that time to around us 1 900 a month before this year s election.

One distinction that ghali made was that a biden win is likely to lift gold prices even more. The short term gold price. Just last week the ceo of us global investors predicted that gold prices could reach an astounding 4 000 due in part to rising money stimulus.

A high dollar value means a lower price for gold while a weaker dollar means a higher price for gold. Since gold s price peak in august the market has stayed volatile but between 1 400 1 500 per ounce. A close look at historical gold price movements in the aftermath of previous u s.