On 8th November 2016, the USA will elect a new president. The gold price will possibly go up if Donald Trump wins, Bloomberg writes in one of its articles.
‘If Trump were to become president, gold prices will likely perform well, because we expect that his policies will be inward looking and will weaken the fundamentals of the U.S. economy.’
-Georgette Boele, ABN Amro
This year has been a good year for gold so far. The gold price has increased 27%, due to the Brexit and US Central Bank not having yet increased interest rates.
´´Gold price would not go up as much if Clinton wins´´ suspected Perth Mint Chairman of the Board Richard Hayes. She is too regular in economical aspect and there would not be as big shock as with Trump.
The gold price on 1st August 2016 was 1349.37 USD. On the 29th July, gold price went highest in two weeks, because the second quarter of USA economy grew less then expected.´´ I think if Trump wins, we will see higher gold prices´´ said Hayes.
Self-started real estate developer and presidential candidate in 2016th D.Trump, has made one of the key topics of election, saying that the USA does not deserve many trade agreements, because they are not helpful for their economy and neither for employees. Trump is trying to get the votes of the working class by being an opponent of the North-Americas free trade agreement NAFTA.´´Although the probability that Trump is being elected president of the United States is low, his election would weaken the US economy and sow uncertainty.´´ Said Dutch bankhouse ABN Amro.
Trump as president of US would be dangerous to the world economy, because he is against existing treaties and also has spread idea that USA should step out of World Trade Organisation WTO´´ reported Overseas-Chinese Banking.
In conclusion if Trump wins we can expect higher gold prices and if Clinton wins then gold prices will probably be less volatile and we can expect sideways movement. Presidential election is on 8th November 2016.