Historically, US elections are known as extraordinary macro trading events that are sure to move the gold market significantly – largely due to political uncertainty and the potential for shifts in economic policy.
There is no denying that the run-up to the 2024 US presidential election has been nothing short of eventful – marked by two assassination attempts, a change of candidates, divisive rhetoric and warnings about the fate of democracy.
And let’s not forget Britain’s ruling Labor Party, accused of “foreign interference” and illegal foreign campaign contributions to the campaign of Democratic presidential candidate Kamala Harris.
A golden opportunity: how the US presidential elections will shape the market narrative
Looking ahead, the big question now is: How will a Donald Trump or Kamala Harris victory shape the market story for the rest of the year and beyond?
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!
According to data collected by GSC Commodity Intelligence, the firm’s analysts predict that if Kamala Harris wins the presidency and implements her policies, she could add as much as $5.1 trillion to the US debt, bringing the debt-to-GDP ratio to 137%.