Gold prices “are going up” whether Trump or Clinton are
elected according to most analysts in the gold market including former
Libertarian and Republican presidential candidate Ron Paul.
Even Goldman Sachs, the primary significant bearish voice regarding gold
prices is now bullish on gold in the medium and long term.
Ron Paul, an astute observer of the markets, warned in a CNBC interview
that “if investors are looking for the next U.S. president to create
stability in the markets, it’s not going to happen.”
Along with jitters about the Federal Reserve’s next move on interest
rates, investors are weighing whether Democratic contender Hillary Clinton or
Republican nominee Donald Trump will be better for investors. The libertarian
icon and former Texas Congressman suggested market players may not want to
hold their breath.
“Politically speaking, there is going to be a lot more uncertainty and
that may go into the markets … If people are depending on political stability
to get the market going I don’t think it’s going to work out.”
“I think [the election] is up for grabs. It will depend on how many
people stay at home,” he explained. “People are so disgusted with
the two candidates that it’s pretty hard to predict” which will prevail,
he said.
For Paul, it doesn’t matter what the outcome is in November, as he doesn’t
see much of a difference between the two parties.
“Nothing ever really changes regardless of which party wins.
Governments keep growing, the deficits keep growing and the Fed keeps
borrowing and printing more money,” he said. “I don’t expect a lot
to change.”
But there is one area of the market that the former Libertarian and
Republican presidential candidate sees flourishing in the long-term – Gold:
“If the economy is truly getting better, that would be better for gold
long-term,” said Paul. “Short-term gold has taken a big hit and it
could very well go down more, but it’s still up 10 percent from a year ago.”
Paul noted that gold has returned 300 percent since the year 2000 while
the Nasdaq has rallied just 6 percent.
“The laws of economics are more powerful than all the politicians and
all the bankers. It’s just that it’s erratic and very up and down and takes a
while to sort out,” Paul added.
“Believe me, gold prices are going up …”
Watch Ron Paul
Gold Prices (LBMA AM)
11 Oct: USD 1,256.40, GBP 1,021.58 & EUR 1,130.76 per ounce
10 Oct: USD 1,262.10, GBP 1,016.62 & EUR 1,129.71 per ounce
07 Oct: USD 1,255.00, GBP 1,012.91 & EUR 1,127.62 per ounce
06 Oct: USD 1,265.50, GBP 994.30 & EUR 1,131.23 per ounce
05 Oct: USD 1,274.00, GBP 1,001.11 & EUR 1,134.37 per ounce
04 Oct: USD 1,309.15, GBP 1,026.90 & EUR 1,172.21 per ounce
03 Oct: USD 1,318.65, GBP 1,023.40 & EUR 1,173.99 per ounce
Silver Prices (LBMA)
11 Oct: USD 17.48, GBP 14.26 & EUR 15.78 per ounce
10 Oct: USD 17.78, GBP 14.31 & EUR 15.92 per ounce
07 Oct: USD 17.33, GBP 14.01 & EUR 15.55 per ounce
06 Oct: USD 17.76, GBP 13.98 & EUR 15.88 per ounce
05 Oct: USD 17.80, GBP 13.99 & EUR 15.86 per ounce
04 Oct: USD 18.74, GBP 14.68 & EUR 16.78 per ounce
03 Oct: USD 19.18, GBP 14.89 & EUR 17.07 per ounce
