• Gold will be a winner no matter who clinches the U.S. election, investor says

Market news

4 November 2020

Gold will be a winner no matter who clinches the U.S. election, investor says

CNBC reports that one investor told that gold and gold miners are set to benefit no matter who wins the U.S. election this week.

That’s because the United States will likely to adopt a sizeable fiscal stimulus program no matter which candidate wins the presidency, James Rasteh, CIO of Coast Capital, told CNBC.

“We would be printing trillions of dollars more and all of that ultimately has extraordinarily positive repercussions for gold,” he said.

“The fiscal and monetary policies would be almost identical under either leadership. I think that the differences that are being delineated are really more imaginative than real,” Rasteh added.

Fiscal stimulus typically leads to a wider deficit. That could undermine investor confidence and prompt them to put their money into safer assets such as gold, and in turn, push gold prices higher.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.