It was another interesting start to the week this week, with the announcement from President Biden that he would no longer run for another term.
We believe that this has significantly changed the dynamics of the US election, and judging by the markets' reaction, we're not the only ones who think so. The Presidential race is now likely to be a close one and we will be watching the next few months with interest.
If you're wondering what the implications of the US election on the gold price might be, wonder no longer. A report released by the World Gold Council concluded that the outcome of the election will not have a direct impact, instead we need to look at the bigger picture,
"our analysis of gold and US presidential elections suggests that gold is not reacting directly to party affiliation or changes in leadership. Rather, it highlights the relevance of key global macroeconomic drivers of gold’s performance in contrast to specific local dynamics,”
Speaking of global market dynamics, who better to ask than Jim Rogers himself. Jim joined me earlier today to discuss the US economy and why he's buying silver right now. We also discussed the drive by countries such as China to stock up on gold, and what that tells us about the state of things to come.
