Trump win likely to spark gold rally

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.

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