Editor’s Note: 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. Sign up here! (Kitco News) – The gold market is in need of a new catalyst as prices continue to consolidate around $1,900 an ounce. With the U.S. election in the home stretch, many investors are hoping a fiscal stimulus package would be the spark to ignite a new rally.
In a telephone interview with Kitco News Friday, Christopher Vecchio, senior currency strategist at IG Group, said that if investors are looking for more stimulus aid then they should be paying close attention to the Senate election race because this is what will drive new government money into the economy.
"If Biden wins, but Republicans maintain hold of the Senate, then it will be difficult to pass new stimulus measures," he said. "The Senate […]
October 27, 2020 (updated October 27, 2020) Published by StockMan