Trump win could see gold surge 10% to over $1,400
Duncan Richardson, News Editor
8 Nov 2016, 11:47 a.m.
The thought of a Donald Trump victory might send shock waves through the equities markets, but fans of the yellow metal a Trump victory will provide a welcome boost to their portfolios. That’s because most market analysts are predicting the gold price to soar by a $100 per ounce should Trump win the race to the White House.
Over the last week the gold price has been closely correlated to the fortunes of the two candidates. When the FBI reopened their investigation into Clinton's emails the gold price rose as odds on a Trump presidency narrowed. The gold price then fell over 2% on Monday after the FBI confirmed Clinton had no case to answer.
Gold has always been viewed as the go-to asset during times of political and financial stress. Many market insiders fear a Donald Trump presidency because of his perceived instability. Citibank are forecasting that U.S. stocks could fall between 3%-5% and European stocks to crash 10% in the event of a Trump win.