Tag Archives: election

With the US elections over and maintaining the status quo for the most part, are we back to square one, or can we expect reverse motion away from the fiscal cliff? The markets didn’t think so last week, with gold closing up at $1,738 and silver at $32.16. As indicated last week by astute analysts, the election was a non-event for the markets, though it has made it clear that hedging in gold and silver is a very good idea. Have you talked to one of our precious metals specialists yet? It’s time to ready yourself for the likely paper burn as inflation picks up. You may reach us at (800) 355-2116.

With the presidential election just a few days away, the latest jobs report showed that more jobs than expected entered the economy in October, pushing gold to close at $1685. But even with this drop, the yellow metal continues to average unprecedented highs. Silver, however, is looking like a steal, with global markets bullish on the white metal. Superstorm Sandy’s wake of destruction may have done little compared to the anticipated market frenzy before the US election: with opinion polls showing a dead heat between Obama and Romney, analysts are expecting a surge in trading after the election. Does emotional trading commence on the 7th of November?

Following gold’s slip last week, this week saw a round of bargain hunting. Gold traded near highs of $1,730, ending the week at $1,716. Silver held in a lateral position with platinum taking a beating as South African mining strikes resulted in massive layoffs and mine closures. US job reports leave many unimpressed, and the country’s presidential elections seem to be sliding into confusion rather than home base as the candidates categorically ignore Europe’s meltdown, China’s slowdown and untold mismanaged mineral wealth in Eastern and Central Africa. With the world’s markets indexed to the over-abundant weak-kneed US dollar, those in the know are calling for reinstating the Gold Standard. Central banks are snapping up gold, leading calls for a November fat with $2000 per ounce gold.