Biden now has taken the lead in Georgia and is very close to winning the election.
however, no matter who becomes the president, he is going to have the toughest job ever, uniting a nation that has never been this divided.
As far as the market is concerned, speculators had an easy job so far betting against the dollar as the next stimulus package is almost guaranteed at this point.
Biden winning might send the stock market into a strong dive due to his tax plans so we initially might see demand for USD raising (maybe even a small fall in gold as profit taking happens for buying in the dips) but in a mid term view, we can expect more inflation and an overall rise in price of commodities like gold beyond their recent historic highs.
the only thing Im worried about now is Biden winning and Trump refusing to accept the results and even maybe inciting violence. that could rise the uncertainty in the market again and push investors into repeating the same behaviour as the beginning days of tradewar.
eitherway Im tired of waiting around because of this seemingly never ending chaos and from next week will get into doing some scalping and small swings on lower time frames.
will try my best post a video review of the charts during the weekend to put here as well.
however, no matter who becomes the president, he is going to have the toughest job ever, uniting a nation that has never been this divided.
As far as the market is concerned, speculators had an easy job so far betting against the dollar as the next stimulus package is almost guaranteed at this point.
Biden winning might send the stock market into a strong dive due to his tax plans so we initially might see demand for USD raising (maybe even a small fall in gold as profit taking happens for buying in the dips) but in a mid term view, we can expect more inflation and an overall rise in price of commodities like gold beyond their recent historic highs.
the only thing Im worried about now is Biden winning and Trump refusing to accept the results and even maybe inciting violence. that could rise the uncertainty in the market again and push investors into repeating the same behaviour as the beginning days of tradewar.
eitherway Im tired of waiting around because of this seemingly never ending chaos and from next week will get into doing some scalping and small swings on lower time frames.
will try my best post a video review of the charts during the weekend to put here as well.
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but as far as gold is concerned, its still undervalued and has a lot of room to climb higher all things considered. so even if it initially falls a bit following the crash in stock market, Im almost sure we will see ounce climbing above 2500 price mark in the next 3 months as the stimulus and inflation are going to have their effects anyways.