The price of gold rebounded today headed into election day tomorrow. Spot gold rose $8.00 per ounce to $1685 as bargain hunters took advantage of Friday’s sharp correction to pick up gold at low prices.
Speaking of the election, now is as good of a time as any to remind investors that no matter who wins tomorrow, the US still has a $17 trillion debt and an economy that has been stuck in the doldrums for 5 years. Moreover, we have still come off of years of negative real interest rates, a scenario that eventually should energize the bull market in gold once again.
Who ever the president is the next 4 years, we can all wish him the best, but we must all take action to safeguard our wealth and, given the circumstances, gold is best positioned to to that.