The big question now is: what will a Trump victory mean for future gold prices?
In a note to clients, analysts at GSC Commodity Intelligence wrote “that a Trump victory could unleash a new supercycle in gold prices due to a host of economic factors, the most monumental of which is his stance on tariffs.”
It’s no secret that Donald Trump has already announced a return to his “America First” rhetoric, with a renewed focus on imposing tariffs. In particular, Trump has floated the idea of a 60% tariff on all Chinese goods – a move that could ultimately reignite global inflation and increase demand for safe havens like gold.
Interestingly, gold prices experienced exponential growth during Trump’s previous presidency. When Trump took office in January 2017, gold was trading around $1,209 an ounce. By the end of its term in January 2021, Gold was hovering around a high of $1,957 per ounce.
Regardless of who wins the US presidential election on November 5 – the fact that both candidates are proposing inflationary policies guarantees one of the most bullish backdrops to future gold prices the world has ever seen!