With Today's Election & Market Uncertainty Gold May Be The Safe Play For Now

With Today’s Election & Market Uncertainty Gold May Be The Safe Play For Now

PALM BEACH, Fla., Nov. 3, 2020 /PRNewswire/ — In uncertain economic times, investors tend to put their money in gold. So it’s perhaps little surprise that gold prices started to rise at the beginning of the year as the coronavirus started spreading in China and Europe and investors feared a global economic downturn. Gold prices have soared so far this year and many analysts predict gold will top $2,000. Gold usually rises alongside investors’ uncertainty in the economy. It’s a "safe haven" for investors who want to hedge their bets against a falling dollar and instability in financial markets, and, as long as investors are still unsure about the health of the market, they’ll continue putting money into gold. Justin Waring, a strategist at UBS Global Wealth Management, says financial markets are unlikely to stabilize until a coronavirus vaccine is widely available. Markets will remain volatile "until we have […]

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