Trump + Biden = Gold?
It seems that the ongoing US presidential election has not changed the situation in the gold market so far as the macro backdrop remains quite favorable to the yellow metal.
At the time of writing this SPOTLIGHT, the U.S. election seems to be going in favor of Joe Biden...
But if we've learned anything from 2016, it's that anything is still possible.
But can a Biden or a Trump win really impact the gold market?
For now, not much has changed in the short to medium term, even with the elections underway.
And the macro backdrop still remains quite favorable to gold:
- It's still all about the stimulus.
- Low-interest rates are here to stay.
- Central Banks are shooting for 2% inflation targets.
Saying that gold prices will rise with a Biden or a Trump win is a prediction we will not make, but now feels as good a time as any to buy gold.