3 Reasons Why the Gold Price Will Shine in 2020, Crypto Coins News
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Gold’s price still has room to climb after this week’s stock market bloodbath.
Long-term pressures from the ballooning U.S. budget deficit remain.
Bernie Sanders’ exact tight grip on the Democratic Party nomination is also a potential catalyst.
The US stock market continues to shed value in what is panning out to be the worst week in years. Fears over the coronavirus have pushed the Dow Jones Industrial Average below , for the first time since October, and we may only be starting to see the full effects.
From all the talk of a global pandemic disease , you would expect the price of gold to be shooting the moon. Gold is supposed to be the ultimate safe haven asset, after all.
While we watched the Dow go from , points to under , 06 in less than a week, all the gold price has done is hover around $ 1, an ounce – albeit following a fleeting spike towards $ 1, .
If Sanders’ political star continues to rise and propels him into the nomination or even into a favorable polling position against Donald Trump, it could spark further market panic and an even more pronounced appetite for the yellow metal.
Considering the above risks and a stock market into its eleventh year of a bull run, the case for gold has not shone so bright for many years.
Disclaimer: The opinions expressed in this article do not necessarily reflect the views of CCN.com. The above should not be considered trading advice from CCN.com.
This article was edited by (Sam Bourgi) . Read More
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