Gold prices can fluctuate wildly if Joe Biden becomes President of the United States!

Hung said that the price of gold could fluctuate wildly if Joe Biden became president of the United States due to electoral politics, as well as the Democratic Party’s strategy to increase the money supply and launch rescue packages to revive the economy. The economy is negatively affected by the Covid-19 pandemic.

If Trump is re-elected, gold prices may not rise dramatically, because the politics of the Republican Party and the Trump administration only provide bailout packages for the companies that are affected, not massively. , to promote on a large scale.

However, according to Hung, who becomes president of the United States, the price of gold in the medium and long term, from now until the end of the year, will also increase because the world economy has not yet recovered from the pandemic. Many companies in the US still need the government support packages and the government rescue packages are still granted, investors are concerned about the increase in the money supply that will cause the dollar to depreciate, thus returning to price. of gold.

According to expert Nguyen The Hung, on November 3, the price of gold is expected to fluctuate more, possibly immediately increasing or decreasing depending on the results of the announced US elections. And perhaps big investors will take immediate steps to buy or sell gold in bulk.

Hung advised speculators and people interested in investing in gold to pay attention to the uptrend from now until the end of November 3 or the movement in the world price of gold just after the US elections.

Currently, the global price of gold is at $ 1,800 / ounce, but thanks to fluctuating US elections, experts predict that gold may return to the threshold of $ 2,000 / ounce (the highest level in August / 2020), even higher if Mr. Biden is elected.

And if President Trump is re-elected, gold prices will continue to rise, but not steeply, because Trump’s policy will not change much compared to before.

Finance – banking specialist, PhD. Nguyen Tri Hieu commented: The world price of gold in the period before, during and after the US elections was very sensitive, difficult to predict and the bookmakers also prepared the whole mindset to be proactive with the market movements.

There is a lot of talk about the “green wave,” which implies that the USD offering will bring a series to the market when Mr. Biden is elected. However, the slogan and the realization of the campaign are a long history and should be carefully studied and influenced by the economic management agencies of this country.

According to many experts, the presidential candidate wins the elections, but for the policy to pass depends on the number of party seats in the House and Senate. If the president of this party takes power, but the number of seats in the Upper and Lower House is uncontrollable, politics will be extremely difficult.

Therefore, if we assume that Mr. Biden is in the presidency, but the House and Senate are dominated by the Republican Party, the policy of launching a series of rescue packages will be delayed, even extremely difficult. towels

Also according to TS. Nguyen Tri Hieu, the price of gold in Vietnam currently ranges from 400 to 600,000 VND / tael, this amplitude is likely to increase in the coming days as a trend to prevent the risk of increasing buying or selling.

On the market, the price of gold in Vietnam has slightly decreased in the sell direction and increased in the buy direction by 50,000 VND / tael, respectively. The difference between the gold price in Vietnam and the world remains high from the threshold of almost 4 million VND / tael, which shows that the possibility of fluctuations in the price of gold in the near future according to the US elections is very strong.

Nguyen tuyen