Gold is poised for long-term gains, no matter who wins the U.S. election, say analysts. The U.S. presidential election has been more of a distraction than a direct influence on the gold market, but expect the precious metal to be a winner no matter the outcome.
For gold, the election isn’t a “blue versus red” competition between the Democrats and Republicans, says Frank Holmes, chief executive officer of U.S. Global Investors. It is a “push the gold button” event, he says.
Investors should consider buying real assets and gold given the Federal Reserve balance sheet expansion and understated inflation, he says. These are among the reasons why Holmes believes gold will climb to $4,000 by 2023.
Futures prices for gold have already climbed by 57% since the day Republican President Donald Trump took office on Jan. 20, 2017. On Nov. 2, prices GCZ20, +0.97% GC00, +0.97% settled at $1,892.50. They are up […]
November 6, 2020 (updated November 6, 2020) Published by StockMan