by Chris Marchese
The volatility continued in the metals again this week, something that we shouldn’t expect to change anytime soon. There wasn’t much news-flow this week, following earnings season. There are talks about the next stimulus package that could be announced at any time, though it will be just be stop-gap until the two sides can come to an agreement on what will inevitably be a larger stimulus package. This is where the upcoming US elections come into play (note: I’m not political).
If Trump wins, we don’t know what the metals would do in the very near-term but he will be very supportive over the medium-term as Trump has set records for single-year deficit spending, and record for single year increase of national debt. However, if Biden wins, gold and silver should go up much more in the very-near term and be incredibly supportive of higher prices. To give you an idea, the democrats wanted to pass a $4T stimulus package already, as opposed to the proposed $1T stimulus by republicans.