What Effect Will President Trump’s Impeachment Have on Gold?
With the House of Representatives having impeached President Trump last Wednesday, the natural question is: what effect will that have on markets? Judging by the way stock markets reacted in early trading on Thursday, not much. The Dow Jones shot up over a hundred points in early trading to start the day, shrugging off the widely anticipated impeachment. Will gold react any differently?
Again, the answer is likely no. Gold rose also in early trading on Thursday, which is understandable. Even if Trump’s impeachment were to be seen as a negative sign for the economy, that would trigger safe haven buying in gold which would boost the gold price. In fact, there’s just about no scenario now in which bad news for President Trump would have a negative effect on gold.
Of course, there’s still a lot that has to occur before seeing whether there are any long-term effects of impeachment on the price of gold. The Senate trial won’t occur anytime soon, particularly as House Speaker Nancy Pelosi has announced that she’ll delay sending the articles of impeachment over to the Senate until she has more evidence.
If impeachment and possible removal from office has an effect on anything, it will likely be greatest on stock markets. Markets have loved the fact that Trump is President, and they’re fearing the possibility of a Bernie Sanders or Elizabeth Warren victory in 2020. The greater the likelihood that Trump will be removed from office, or that he’ll lose his reelection bid, the worse stock markets will perform. And as everyone knows, the worse stock markets perform, the better gold performs.
We’re in a time now when the stars are aligning and everything is moving into position for gold to make some pretty tremendous gains. If you haven’t started investing in gold yet, now is the time to do it, before gold really takes off. Don’t be left in the dust as gold skyrockets and stocks plummet. Call Goldco today to find out how you can make gold an important part of your retirement savings portfolio.