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Will Gold Continue To Climb?

This past year, we all know by now how gold has performed and what a valuable asset it has become to investors.  But now with the election, what will happen to the performance of gold?  Will there be a momentary pause in the price per ounce?  Or will we see an encore and an even better performance from gold?  With a winner still to be determined, here are some possibilities that will happen to gold.

Analyst Predictions

With gold not performing to the best of its capabilities in October 2020, analysts did predict a surge in gold around the time of the election.  With the uncertainty that the election has brought, precious metals have been on the rise once again.  Investors only saw a glimpse of the power that gold has.  With investor tycoon, Warren Buffett, trading away his most valuable shares at Berkshire Hathaway to invest in gold – it immediately received attention by every investor as this was not a move that they saw coming.  Yes, the global pandemic and all that came with it, did cause a huge rise in precious metals, but the question still being asked is whether gold will continue to soar?  As the markets and every American are still uncertain about who will be the next President, it is already causing gold to rise.

…the dollar is going to drop like a stone and that’s when the price of gold is going to skyrocket…

-Peter Schiff

If Biden Wins…

Presidential Candidate, Joe Biden, has already indicated that he does intend to tax the wealthy class of America.  Even though this may not be concerning when it is heard in the headlines, it will start to fall down to all income levels in America.  Eventually, the lower, middle, and upper-class income levels will all be paying higher taxes.  The stock market will also be seeing a huge hit as he has proposed taxing bonds and stock trades.

As Covid-19 has dictated the entire year of 2020 and what we can and can’t do as Americans, Biden does plan on continuing the lockdown for Americans which will lead to more economic hardships at every level.

If Trump Wins…

If President Trump is re-elected into office, the business will continue to have their regular policies intact with not having to worry about higher taxes as much with a Biden victory.  Although this will be a positive outcome for businesses, the stock market is highly inflated with debt from companies inflating their holdings, and we are still trying to put back together the pieces of the crash of 2008.  Many have predicted that after the election, most states would open back up after being in a state of lockdown, but the chances of that actually happening are still slim with a Trump victory.

…Gold hitting $5,000 per ounce in the near future is realistic

-Jim Rickards

The Gold Wave

The way that gold has performed, we all feel that the only outcome for gold will be upwards.  And it certainly looks that way with either candidate winning.  If Biden were to step into the oval office, there would be extreme turmoil within the markets almost instantly.  With investors having so much of their portfolio and assets tied in different areas of the market, they know with a Biden victory that they will be forced to resort to gold to protect what they have.

If Trump were to remain in office, there would be somewhat of a pause within the fluctuation of gold’s price per ounce.  But it will clearly climb due to the underlying economic issues that will soon become more apparent than ever in the next 4 years to come.

Analysts have called this movement in gold, “the gold wave”, which indicates how strong the price per ounce has become since March 2020 and what it is projected to become.  Although gold is on the rise again, the time to invest is NOW.  The majority of Americans have to realize that their retirement savings are at stake due to the volatility of the stock market.  Securing their most valuable assets in gold will not only diversify and grow their portfolio, but it will protect their assets in all ways possible.

Allegiance Gold has been preserving IRA, 401K’s, and other retirement accounts for retirees for years.  Allow the gold experts at Allegiance Gold to educate you on how you can protect your life-savings with diversifying your financial portfolio.

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