Gold Price Predictions If Biden Or Trump Wins Presidency

Gold last traded at $1,905 an ounce. Silver at $24.10 an ounce.

NEWS SUMMARY: Precious metal prices rose Tuesday on safe-haven buying and a sharply weaker dollar. U.S. stocks rallied as investors hoped a clear winner would emerge from the U.S. presidential election.

 Akhtar/Yahoo Finance---"The U.S. presidential election will play a huge role in shaping the global economy and gold prices are expected to react in the run up to the election day. So how important is it for the safe haven asset gold if Biden or Trump makes it to the White House? 'There is no doubt that we are likely to see increased volatility in stock markets in the run up to the election day and investors seeking traditional safe havens such as gold, particularly if the race between the two candidates gets very close and there is a growing risk of a contested outcome,' writes Saida Litosh, manager of precious metals analysis at Refinitiv....'Historically gold price movements in the aftermath of previous U.S. presidential elections suggests little evidence of a clear relationship between the gold price and the election outcome based on party affiliation,' says Litosh. Fosterville South Exploration CEO Bryan Slusarchuk says, for thousands of years, gold has acted as a hedge against uncertainty, a currency and a store of wealth. Both Trump and Biden have promised huge amounts of stimulus and huge amounts of easing. 'Both [Trump and Biden] have been vocally supportive of various policies that amount to quantitative easing and therefore gold ought to react well no matter who is elected,' says Slusarchuk. Stepping beyond financial conditions, which will serve to propel gold higher, we need to consider gold's function as a hedge against uncertainty, says Slusarchuk....'I believe gold has explosive upside in the coming months and this is predicated on economic and financial conditions, but the uncertainty of the election outcome will only serve to accelerate its upward trajectory,' adds Slusarchuk."