Gold Price and Key Elections
(PresseBox) - Both the USA and India are holding elections this year. This could boost the gold price.
After all, the USA and India together account for about 40 percent of global gold demand. The outcome of the US presidential election will influence the global economy and the strength or weakness of the US dollar, which in turn affects the price of the precious metal. Historically, the price of gold tends to rise before a US election. Additionally, a recession in the country is still a possibility, which would result in a weaker US dollar and a higher gold price. Regardless of the election outcome, the massive US debt is more likely to increase rather than decrease. If the debt dynamics are not sustainable, upward pressure on interest rates may occur. Industry experts generally believe that if Donald Trump were to be re-elected, it would further boost the gold price due to increased uncertainty.
Both Trump and Biden will struggle to rein in the budget deficit. Estimates suggest that the budget deficit could accumulate to nearly 170 percent over the next three decades. The population is aging (as it is here), interest payments will rise, and tax revenues are insufficient. If Trump were to win and extend his tax cuts from his time in office, this could drive the debt to more than 200 percent of gross domestic product. Increasing debt and deficits should positively impact the gold price. Regardless of the winner, they are unlikely to make drastic decisions to put the financial situation back on a healthier footing.
Gold should also benefit given it is an election year. Therefore, gold assets such as Collective Mining or Fury Gold Mines are desirable components in a balanced portfolio.
Collective Mining - https://www.commodity-tv.com/ondemand/companies/profil/collective-mining/ - is a gold, silver, copper, and tungsten exploration company with projects in Colombia. The Guayabales project boasts excellent drilling results in gold and silver.
Fury Gold Mines - https://www.commodity-tv.com/play/fury-gold-mines-potential-of-ma-around-eleonore-south-updated-mineral-resource-and-2024-exploration/ - has high-quality projects in Quebec and Nunavut, as well as a significant equity stake in Dolly Varden Silver.
For current company information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ -) and Collective Mining (- https://www.resource-capital.ch/de/unternehmen/collective-mining-ltd/ -).
According to ?34 WpHG, I would like to point out that partners, authors, and employees may hold shares in the companies mentioned and therefore a potential conflict of interest may exist. No guarantee for the translation into German. Only the English version of this news is valid.
Disclaimer: The provided information does not constitute any recommendation or advice. The risks involved in securities trading are expressly pointed out. No liability can be assumed for damages resulting from the use of this blog. It should be noted that stocks and especially option investments are generally associated with risks. The total loss of the capital invested cannot be ruled out. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make an error, especially with regard to figures and prices. The information contained herein is sourced from reliable sources but does not claim to be correct and complete. Due to legal judgments, the contents of linked external sites are to be co-responsible (e.g. Landgericht Hamburg, in the judgment of May 12, 1998 - 312 O 85/98), as long as no explicit distancing is made from these. Despite careful content control, no liability is assumed for the content of linked external pages. The respective operators are solely responsible for their content. Additionally, the disclaimer of Swiss Resource Capital AG applies: https://www.resource-capital.ch/de/disclaimer-agb/.
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Datum: 28.05.2024 - 07:56 Uhr
Sprache: Deutsch
News-ID 706188
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