Gold investors need to ensure their safety belts are buckled tight this week, especially since the forthcoming election could give them a stomach-churning roller coaster ride of volatility. Other key movers for gold will only add to the dips and dives.
“The first week of November will not only see the most anticipated event of the year — the U.S. election, but also the Federal Reserve interest rate decision and some key datasets, including the U.S. employment figures from October,” a Kitco News article explained.
So what’s the best strategy when it comes to gold? Some market experts advise to refrain from being a seller amid all the market uncertainty.
“People that are holding metals absolutely should not be selling into the election,” said Kitco Metals Global Trading Director Peter Hug. “People not holding the metals and who wish to diversify 10%, I would be of the mindset that you would want […]
November 3, 2020 (updated November 3, 2020) Published by StockMan