The gold and silver bears continue to be wrong. Years of interest rate bumps, a high stock market, and record-breaking precious metals prices should have combined for a major dip in gold and silver at some point, according to those who use traditional models. But things are different today. The world is different.
Even a juiced up U.S. Dollar that rose nicely to end August didn’t take gold down. That tells us two things. First, it means that traditional models around precious metals no longer apply. Second, it means those who influence gold and silver prices behind the scenes must be holding gold and silver because they’re not letting the prices drop.
“We despise the central banks but we watch them like hawks,” said Jonathan Rose, CEO of Genesis Gold Group. “As they continue to quietly stockpile gold and silver, we take it as a cue to put the right mix of metals in our clients’ Gold IRAs.”
With the U.S. presidential election around the corner, will traditional thinking regarding Republican and Democrat administrations hold up? It’s widely acknowledged that if Kamala Harris wins the election, precious metals prices will skyrocket. But the traditional thinking that a Republican presidency could hurt gold and silver prices may be inaccurate.
Lest we forget, precious metals thrived during Donald Trump’s first term with prices moving higher at the same rate as under Joe Biden. That combined with recent quirks in how the markets react to events points to a potential boon for those holding gold, according to Rose.
“This economy is the strangest we’ve seen in decades,” he said. “It tells us that a Trump presidency could be even better for precious metals prices than a Harris presidency because those behind the global economy will try to strengthen themselves to fight Trump’s America First agenda.”
With rate cuts expected in the near future, precious metals prices may spike ahead of the election. Then, it will be a matter of geopolitics that will determine whether they drop, stabilize, or continue to rise after the election.
Either way, physical gold and silver are becoming increasingly popular options for Americans to protect their wealth and retirement. To learn more about how Genesis Gold Group can facilitate the move, reach out to them and receive a free, definitive gold guide.
