Gold prices heavily depend on the fate of fiscal stimulus.
A blue wave could unleash a golden age for the precious metal.
If Trump remains is reelected, the reaction could be mixed.
President Biden with a Republican Senate would cause a meltdown. Gold could power up if the government prints more money – that is the simple logic that has been rocking the precious metal in recent months. XAU/USD soared to new highs as central banks enhanced their bond-buying programs and as authorities used the funds to shore up the economies amid the coronavirus crisis.The Federal Reserve, the European Central Bank , and even European governments did "whatever it takes." The US government also played its part early in the crisis with the CARES Act – but most programs have lapsed. Now, markets and gold bulls want more of what Uncle Sam can give .Democrats […]
November 3, 2020 (updated November 3, 2020) Published by StockMan