Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Gold’s getting a boost from the turmoil surrounding Donald Trump’s administration.
The metal climbed for a fifth day, the longest run in a month, on reports that the president asked FBI Director James Comey to drop an investigation into a former National Security Adviser. The dollar has dropped and European stocks fell amid the latest controversy, which prompted references to the 1970s Watergate scandal that helped to sink the then president, Richard Nixon.
Trump “perhaps is facing his toughest time in the office,” said Naeem Aslam, chief market analyst in London at Think Markets U.K. Ltd.
