While Yung-yu Ma, chief investment strategist at BMO Wealth Management — U.S., agreed that there are many factors supporting gold, he pointed to two big events that could change the direction of prices.
"We're just cautious extrapolating these current factors ... especially when we know there are two big events on the horizon that could change that trajectory. One is of course the vaccine development, and the other is the elections," he told CNBC on Monday. "We think ... especially the vaccine has potential to shift some of those positive factors that are working right now in the favor of gold," he said.
However, in a note last week, financial data provider Refinitiv pointed to U.S. political developments that could disrupt financial markets and support the gold rally. "The elections are now less than 100 days away and Trump had recently suggested delaying it, raising concerns he will seek to circumvent voting in a contest where he currently trails his opponent by double digits," wrote Refinitiv's Cameron Alexander, manager of precious metals research. He was referring to Democratic candidate Joe Biden, whoIn the 2016 presidential elections, after Trump's surprise win over Democrat Hillary Clinton investors fled to gold, a safe haven asset.
This only reflects how fragile and volatile is the economy now. Every time that the price of gold surged indefinitely and broke records there was a big recession ahead.
Interesting reading. The key points make sense.
Interesting how Authors write Gold is inverse of yield. Then write but, POTUS election & virus cure will reverse treasuries yield. Common cold still here, debt per tax payer bigger then ever, we got a corrupt banking system & congress that won’t fix it. Sit tight & hold 4 profits
if cnbc says gold us going to $4000 I'm all in, can't lose now !🙄😆
Haha...author spelled bitcoin wrong throughout entire article.
September always kills gold rallies!
A vaccine will cause a gold crash.
I wonder if people will buy gold if Trump or will buy if Biden wins. Both seem to be 2 sides of extreme.
rates are never going back up and qe is forever. Any change, and u can say goodbye to all asset bubbles.
Silver?
bryanstewart108 Could this be one of them? Click to find out. [I don't get paid or collect your data]
Someone caught long gold last week , they try to push the market higher
This is very extreme view , I can’t agree with them , or true speculation .
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