The large query now’s: what is going to a Trump victory imply for future gold costs?
In a word to purchasers, analysts at GSC Commodity Intelligence wrote “{that a} Trump victory may unleash a brand new supercycle in gold costs attributable to a bunch of financial elements, probably the most monumental of which is his stance on tariffs.”
It is no secret that Donald Trump has already introduced a return to his “America First” rhetoric, with a renewed deal with imposing tariffs. Particularly, Trump has floated the concept of a 60% tariff on all Chinese language items – a transfer that might finally reignite world inflation and enhance demand for protected havens like gold.
Curiously, gold costs skilled exponential progress throughout Trump’s earlier presidency. When Trump took workplace in January 2017, gold was buying and selling round $1,209 an oz. By the tip of its time period in January 2021, Gold was hovering round a excessive of $1,957 per ounce.
No matter who wins the US presidential election on November 5 – the truth that each candidates are proposing inflationary insurance policies ensures some of the bullish backdrops to future gold costs the world has ever seen!