Trump as President Means Gold’s Going Higher, Mint Forecasts
A Donald Trump victory in the U.S. presidential election in November would probably lift gold prices, according to the mint that refines almost all the bullion output from one of the world’s biggest producers.
“If someone like Donald Trump does get himself elected, it will stimulate some fear within the economy as to where things are going,” Richard Hayes, chief executive officer of the Perth Mint, said in a Bloomberg TV interview. “Trump is very much a protectionist, he is very much for almost ‘Fortress America’.”
Gold has rallied 27 percent this year on demand for haven assets following the U.K.’s vote to leave the European Union and as the Federal Reserve refrains from raising rates. The U.S. race remains close after the conventions last month, withpolls showing Democratic nominee Hillary Clinton holding a slight lead over Republican Trump. DBS Group Holdings Ltd. has said the markets have yet to deal with the political uncertainty going into the U.S. contest. – READ MORE