Gold has been benefiting from a weak U.S. dollar and the uncertainty of the U.S. election outcome, with Democratic nominee Joe Biden in the lead but no election calls yet.
Gold made gains this week and was trading at $1,952.28 per ounce at last check Friday.
"While the potential election of Joe Biden means a lot to various segments of the capital markets, I think the cake was baked for gold long before the vote," said Fosterville South Exploration CEO Bryan Slusarchuk .
Bull Market For Gold: Regardless of who wins the election, the setup for a once-in-a-lifetime bull market in gold was in place due to bipartisan support for quantitative easing, unprecedented monetary and fiscal stimulus and a low-to-negative interest rate policy, said Slusarchuk."Gold is a currency, and right now it is the only currency in the world not being printed with reckless abandon in an effort to stave off […]
November 8, 2020 (updated November 8, 2020) Published by StockMan