The head of Australia’s largest gold miner, Newcrest’s Sandeep Biswas, will be watching this week’s presidential election closely. "Gold reacts to uncertainty and it reacts to monetary policy," explains Biswas.
In the final days before the November 3 vote, both issues are looming large for stockmarket investors as a resurgence of coronavirus infections rips through the United States and future stimulus plans to cushion the economic impact could vary depending on the election result. Newcrest CEO Sandeep Biswas.Credit:Jesse Marlow Then there’s the threat of a close contest and a delayed result due to this year’s rise in mail-in ballots, and Donald Trump’s threat that he may not accept a peaceful transfer of power if he loses, which could escalate uncertainty even further.
But after the virus-induced global recession sent gold prices soaring 30 per cent this year, surpassing $US2000 an ounce for the first time in history, Biswas is not alone […]
November 2, 2020 (updated November 2, 2020) Published by StockMan