Will Us Election Affect Gold Price In India

When it comes to the relationship between the economy and us presidential elections causality flows both ways stated differently the strength of the economy has a major impact on which party is elected in the words of bill clinton s successful 92 campaign against george h.

Will us election affect gold price in india. Us gold futures rose 0 5 per cent to 1 905 50 per ounce. Globally gold prices were little changed after early us election results suggested a lead for democrat contender joe biden even as the possibility of a contested result remained. In the meantime a lot can happen before november 2020 especially with the federal reserve apparently set to turn dovish and cut interest rates this summer.

Spot gold was little changed at 1 904 66 per ounce by 0111 gmt. 1 the us economy and the election. The outcome could have enormous ramifications for all asset markets including precious metals as an investment.

Some analysts believe the price could hit 3 000 in as little as 18 months. According to tv station komo gold prices typically soar in the month of september before election day and drop in the days leading up to americans going to. How do presidential elections affect gold prices.

Concerns over chinese economy uncertainty over the pace of the us economic recovery and the anxiety around the indian general election. Outcome of general election due in april may with prospects of a stable new government would influence gold prices apart from equity markets a study said. The 2020 presidential election is already shaping up to be one of the most bitterly contested in history.

Silver rose 0 3 per cent to 23 98. In its study golden connect of indian elections the industry body said at the moment three important factors are driving the global gold market. Where there s data there s insight.

When obama took office in january 2009 the price of gold was valued at just over us 890. Gold prices have soared over the last several months with the metal up 13 74 year to date compared with a 12 decline in the s p 500. Learn what gold prices tend to do around election time and the financial lessons we can apply before we head to the ballot box on november 3 2020.