Trump win likely to spark gold rally

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MG News | November 04, 2024 at 01:02 PM GMT+05:00

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November 04, 2024 (MLN): Gold will continue to rally if Republican presidential candidate Donald Trump wins the White House, but it will retreat if Vice President Kamala Harris takes over, according to a Bloomberg MLIV Pulse survey released last week.

The yellow metal is viewed as a Trump trade to hedge against any inflation from his proposed tariffs.

Gold was also picked as the best haven play in case of a Trump win in an earlier Pulse survey. Respondents said Harris would put pressure on gold prices, with other survey results suggesting the Democrat candidate is seen as less inflationary.

Copyright Mettis Link News

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