Gold prices could perform well regardless of who wins the US Presidential election, says research and data company Standard & Poor’s Global Market Intelligence (S&P GMI) and analysts it has consulted with, pointing to low interest-rate policy and potential pandemic-related stimulus.
“While there are many arguments over who will be the next US President, one thing most analysts appear to agree on is that the price of gold will be higher no matter who is in office,” said investment firm Haywood Securities analysts in an October 23 research note. Gold has been on the rise this year, reaching record levels and catching widespread attention as it rallied to a record-breaking $2 000/oz earlier this year. Though the gold price has since pulled back to around $1 900/oz, it has remained at historically high levels amid low to negative interest rates and economic uncertainty related to the ongoing Covid-19 pandemic.
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October 30, 2020 Published by StockMan