Gold Price Election 2020

And 2020 has been no exception in that sense.

Gold price election 2020. According to german refiners heraeus gold typically rallies in the run up to an american election and then trades lower afterwards. Asian and european stock markets were mixed overnight. This doesn t appear to be the case at present however.

The money metal went on to hit a record 1 000 oz in early 2008. Recall that when george w. When donald trump won the 2016 election the price of gold fell and stocks rallied so it stands to reason that if he loses in 2020 there will be a stock market crash propelling the price of gold.

What s the us election s effect on the gold price in usd terms. But things are never this simple. Bush won re election in november 2004 gold was trading at a mere 450 oz.

In february 2020 citi predicted a spike in gold prices over the next 6 to 12 months. 2020 gold price forecast and gold stocks to watch precious metals outlook 2020. If the gop keeps the white house in 2020 it s not necessarily bad news for metals investors.

It may yet remain that way over the next few days. Peter schiff ceo of euro pacific capital told kitco news that if president trump loses the 2020 election and joe biden or bernie sanders wins the price of gold could surpass 2 000 oz. At time of writing the us election remains in the balance it s still too tight early on.

We have witnessed a spectacular rally in the gold price this year driven by the economic downturn caused by the covid 19 outbreak massive stimulus packages introduced by governments which are likely to translate into rising inflationary expectations the low interest rate environment and escalating geopolitical tensions all of which have seen the dollar gold price hit a fresh record over the summer months. Election results come in. That could happen by election night he says.