Gold Price Forecast After Election

But in 2019 as the presidential election drew closer the price of gold took off.

Gold price forecast after election. Gold sold off after facing rejection once again at 1900 mark. However if we look at the individual price paths it is evident that gold reversed its course on election day in 2008 and 2004. Kitco news thursday october 03 2019 19 07.

But things are never this simple. Next surge to follow us election by christopher aaron chief analyst founder igold advisor october 31 2020 gold prices continue to correct from the new all time high set on august 6 2020. Gold prices dipped on thursday as the dollar steadied and comments from u s.

It turns out that on average the thick red line is the average based on the elections nothing really happened. Election is taking place on nov. Treasury secretary steve mnuchin dashed hopes of a new fiscal stimulus package before the presidential election.

On that date gold hit 2 074 per ounce the highest cost to purchase one ounce of gold in the history of mankind. Gold prices have continued to grind lower since peaking on august 7 2075 14 as the absence of a much needed fiscal aid package the federal reserve s wait and see approach to monetary policy. Xau usd downed by us dollar comeback after presidential election debate.

The stock market has already seen an unprecedented rally this year mainly spurred on by mass government stimulus. Finally let s look at how gold performed after the previous u s. 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.

Get caught up in minutes with our speedy summary of today s must read news stories and expert opinions that moved the precious metals and financial markets. And ended at 1 530 oz a difference of more than 18. Last year the price started at around 1 290 oz.