Gold Price And Presidential Election

The gold market has come off its daily lows as the u s.

Gold price and presidential election. They are up by almost 24 year to date after hitting a record high of over 2 070 in august. 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.

Us presidential election to dictate gold price action gold s inverse relationship with the us dollar could see the precious metal continue to track lower in the near term given that the upcoming. As both candidates vie for the white house in this high stakes vote looking past the. The yellow metal has been bouncing from the support level marked by mid august.

Gold futures prices are near steady in early u s. Sebag added that political and macroeconomic uncertainty could add tailwinds to gold. Let s look at the gold chart below.

Within 4 years of the november 2016 election gold gained 84 49 as trump gets president. The futures prices for gold have already gained 57 since the day that president donald trump took office on january 20 2017. Presidential election whose results are still up in the air.

On november 2 2020 prices settled at around 1 892 50. Political landscape could change course completely if taking into account the possibility that a democrat like elizabeth warren could win the 2020 presidential election said roy sebag ceo of mene. As shown in the chart gold was in sideways trends before the november 2016 elections and due to market dynamics and pre election intermediate term cycles prices were expected to drop.

The approaching 2020 us presidential election looks set to be one of the most polarized in recent history. And ended at 1 530 oz a difference of more than 18. Trading wednesday as the yellow metal and many other markets are pausing amid a u s.