Trump vs Harris: What the 2024 Election Means for Gold Value…

1997-1998 – Asian Monetary Disaster

The Asian monetary disaster began with the collapse of the Thai baht. This disaster destabilized Southeast Asian economies, growing gold’s enchantment as a safe-haven asset.

2001 – 9/11 Terrorist Assaults

The September 11 assaults led to a surge in safe-haven demand for gold as international markets reacted to heightened uncertainty. Gold costs bottomed and began to surge.

2003 – Iraq Conflict

The US invasion of Iraq fuelled considerations over Center Japanese stability, including to gold’s safe-haven enchantment throughout heightened geopolitical tensions.

2008 – World Monetary Disaster

Triggered by the collapse of Lehman Brothers, this era noticed large financial fallout, and gold surged as traders sought stability amid market turmoil.

2010 – European Debt Disaster

Sovereign debt considerations in Greece, Spain, and different Eurozone international locations led to a spike in gold demand as a hedge in opposition to foreign money instability.

2016 – Brexit Vote

The UK’s resolution to depart the European Union launched financial uncertainty, driving demand for gold as a secure haven amid fears of economic instability.

2018-2019 – US-China Commerce Conflict

The elevated tariffs and commerce tensions created volatility in international markets, and gold costs rose as traders turned to safe-haven property.

2020 – COVID-19 Pandemic

The pandemic led to international financial shutdowns, in depth fiscal stimulus, and market volatility, which propelled gold demand.

2022 – Russia-Ukraine Battle

Russia’s invasion of Ukraine destabilized markets, triggering a rush to gold as a result of considerations over international stability and financial sanctions on Russia.

Gold Traits Below Totally different Presidencies and 2024 US Election Outlook

Harris and Trump current competing visions that would drive distinct financial and geopolitical eventualities. Harris emphasised financial help for first-time homebuyers, households, small companies, investments in renewable power and continued backing of home oil manufacturing. Her dedication to supporting US allies within the context of the Russia-Ukraine battle provides one other layer of potential geopolitical influence. However, Trump focuses on policing, immigration, and boosting tariffs on Chinese language items, together with pledging to finish the Russia-Ukraine warfare by way of diplomatic measures. The platforms of each candidates are starkly totally different. Key areas of focus embody commerce relations, power investments, and the energy of the US greenback.

The chart under reveals the gold value patterns throughout Donald Trump’s and Joe Biden’s presidencies. Donald Trump’s announcement as president drove the gold value sharply upward, breaking above the important thing stage of $1,350. An inverted head-and-shoulders sample decided this stage, accomplished after his announcement. The gold worth reached a document stage of $2,075 simply earlier than the 2020 election.

However, the gold value consolidated under the important thing stage of $2,075 throughout Joe Biden’s presidency. The value broke above $2,075 and initiated the subsequent surge greater over the last yr of Biden’s time period. The market is now approaching the identical overbought area noticed simply earlier than the earlier presidential election, as indicated by the RSI on the month-to-month chart.