Gold Prices Surge As Dollar Drops

Gold Prices Surge As Dollar Drops

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 […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet