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Citigroup analysts predicted that. Gold prices could hit a record before the end of the year. Which is partly due to various risks. About the US Presidential Election
Citigroup analyst Achach Doji said in its quarterly commodity price trends report. Uncertainty about the US presidential election and election results that may be delayed can be a driving force for gold prices to rise. With Citigroup expected Gold futures will rise more than $ 200 from current levels.
The COMEX (Commodity Exchange) gold contract for December delivery closed yesterday at $ 1,907.6 an ounce.
Citigroup’s forecasts reflect that. Investors are increasingly concerned about the fight for American leadership between President Donald. Republican Trump and Democratic candidate Joe Biden.
The electoral situation is also becoming more complex. After the death of United States Supreme Court Justice Ruth Bader Ginsburg. When President Trump announced that he would name a replacement for Mrs. Ginsberg on Saturday.
Biden has urged Republican senators to revoke the vote for President Trump’s nomination to replace Ginsburg as the new Supreme Court Justice, saying that President Trump’s actions have yet to be elected. Trump is a smart use of political power. Because if the appointment is approved by the Senate, it would give Conservatives a six-to-three majority on the Supreme Court, which could affect decades of American law and life. With that said, the citizens of the United States should decide who should be eligible to nominate a new Supreme Court justice.
Citigroup analysts said: The US presidential election could be a catalyst for accelerating gold prices in the fourth quarter of this year, although there have been no historical patterns before or after the US presidential election. It will rise to a new record before the end of this year.
