The attempted assassination against Donald Trump on Saturday prompted a sharp spike in precious metals prices, particularly gold.
We spoke to the CEO of one of our partners, Jonathan Rose at Genesis Gold Group, to learn why this is happening and whether it’s a temporary spike or a sustainable trend. He gave us the main reason it’s happening, then explained why he believes precious metals prices will continue to be sound investments for retirement savings or storing in one’s safe even after the election.
Market Instability
“Major geopolitical events always cause market fluctuations and the attack on President Trump definitely qualifies. Gold, silver, and to some extent cryptocurrencies will see spikes as a result but there are other factors that will likely keep the gains for the long term.
“More indications of rate cuts by the Fed have those holding gold very excited. Those who want gold for their retirements or to store at home are also clearly excited because we’ve had a spike in inquiries just over the past couple of days.”
Cultural Instability
“It’s easy to see the political implications of the attack as President Trump is on track to win by a wide margin. But there are cultural implications that have people on both sides of the political aisle concerned about the future.
“Most notably, Americans are concerned about chaos that could ensue regardless of what happens on election day. These concerns were justified before the assassination attempt and they’re even more justified now. Having ‘safe haven’ investments like physical precious metals is starting to make sense to a whole lot of people.”
“New Normal” in Precious Metals Thinking
“Democrats in power have been good for precious metals prices in the past, but there’s a new paradigm forming that actually favors a Trump presidency benefiting gold and silver. This shift stems from the sustained high inflation that we’ve seen for three years.
“Trump’s policies flourish best with a weaker U.S. Dollar. Combine that with the likelihood of rate cuts in the near future and it’s easy to see why a Trump presidency would help gold and silver prices move up sharply even as we’re at record highs now.”
Genesis Gold Group is a faith-driven company that specializes in helping Americans rollover or transfer their retirement accounts into Genesis IRAs backed by physical precious metals. They exclusively distribute the “Prepper Bar” which can also be purchased directly to be shipped directly to their customers.
