1997-1998 – Asian monetary disaster
The Asian monetary disaster began with the collapse of the Thai baht. This disaster destabilized Southeast Asian economies, rising gold’s attraction as a protected haven.
2001 – September 11 Terrorist assaults
The September 11 assaults led to a surge in safe-haven demand for gold as international markets responded to elevated uncertainty. The gold value hit a low and began to rise.
2003 – Warfare in Iraq
The US invasion of Iraq fueled issues about stability within the Center East, including to gold’s attraction as a protected haven throughout heightened geopolitical tensions.
2008 – World monetary disaster
This era, brought on by the collapse of Lehman Brothers, noticed huge financial penalties and the worth of gold soared as traders sought stability amid the market turmoil.
2010 – European debt disaster
Considerations about sovereign debt in Greece, Spain and different eurozone international locations led to a spike in demand for gold as a hedge towards forex instability.
2016 – Brexit vote
Britain’s choice to depart the European Union created financial uncertainty, boosting demand for gold as a protected haven amid fears of economic instability.
2018-2019 – US-China commerce conflict
Elevated tariffs and commerce tensions brought about volatility in international markets, and gold costs rose as traders turned to safe-haven belongings.
2020 – COVID-19 pandemic
The pandemic led to international financial shutdowns, in depth fiscal stimulus and market volatility, boosting demand for gold.
2022 – Russia-Ukraine battle
Russia’s invasion of Ukraine destabilized markets, resulting in a rush to gold amid issues about international stability and financial sanctions towards Russia.
Gold traits beneath completely different presidencies and US election prospects for 2024
Harris and Trump current competing visions that would drive completely different financial and geopolitical situations. Harris emphasised financial assist for first-time homebuyers, households, small companies, investments in renewable vitality and continued assist for home oil manufacturing. Her dedication to supporting U.S. allies within the context of the Russia-Ukraine battle provides a further layer of potential geopolitical impression. Then again, Trump is specializing in policing, immigration and elevating tariffs on Chinese language items, along with promising to finish the conflict between Russia and Ukraine by diplomatic measures. The platforms of each candidates are very completely different. Key areas of focus embrace commerce relations, vitality investments and the power of the US greenback.
The chart beneath exhibits gold value patterns in the course of the presidencies of Donald Trump and Joe Biden. The announcement of Donald Trump as president pushed gold costs sharply increased, breaking above the important thing $1,350 stage. An inverted head-and-shoulders sample outlined this stage, accomplished after his announcement. Gold hit a file excessive of $2,075 simply earlier than the 2020 election.
Then again, gold costs consolidated beneath the important thing $2,075 stage throughout Joe Biden’s presidency. The value broke above $2,075, triggering the subsequent surge in the course of the remaining 12 months of Biden’s time period. The market is now approaching the identical overbought space as simply earlier than the final presidential election, as indicated by the RSI on the month-to-month chart.