What the Upcoming Election Might Mean for Gold

election gold

Gold’s outstanding performance over the last few years has caught millions off-guard. An asset that has always been regarded and utilized as a safe-haven for cash and as a hedge against inflation — has actually outperformed many stocks over similar periods.

In fact, over the past 20 years leading up to its all-time high in August 2020, gold has seen price increases of over 500%. Its price has doubled in the past two years alone— and now the question is, what will Gold’s future look like?

Many peg gold’s breakout performance in the first three quarters of 2020 to the uncertainty surrounding our economy’s future and, more specifically, the USD. And now that we are facing one of the most anticipated and highly controversial presidential elections ever, even more, are betting that the gold bull run is just now getting started.

Citigroup Inc. believes that gold could hit a record before the year-end, aided in part by the risks surrounding the U.S. presidential election. There are many views and opinions around how each presidential candidate’s election will affect our economy, stock market, and the dollar, and fortunately, each situation may prove positive for gold.

Americans anxiously wait for poll updates as the slightest news favoring one candidate over the other could be the earliest indicator of how their portfolio may perform in the years to come.

If Biden were to win, some Americans fear a further weakening of the economy, thus leading to the decline of the dollar, and very soon after, everything else will follow. Well, not quite “everything” will follow.

Just as it has been in past times of uncertainty and pandemics, if the economy and dollar were to continue to decline, demand for gold as a safe-haven could continue to rise.

If Trump were to be re-elected, some Americans believe that the economy would continue it’s V-shaped recovery upwards until getting back to pre-COVID numbers and eventually even surpassing those numbers. If this were the case, it would be expected that the price of gold continues to rise along with the economy and market.

The next few months will indeed have a substantial impact on gold for years to come— the question is how large and quick that effect will be.

Click here or call at 800-462-0071 to learn how thousands of Americans are protecting and diversifying their investments with precious metals like gold in these uncertain times.

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