Gold rose for a second day on Tuesday, largely tracking equities, as the market watched the U.S. presidential election in which a win for President Barack Obama could boost bullion by raising expectations for Federal Reserve stimulus.
This race is a coin toss. We will likely not see the results until late this evening. People are asking if Gold or Silver are a good investment if Romney wins. The answer, is that Romney and Ryan cannot fix inflationary pressures immediately. However, they can help with HOPE! With a Romney victory, many capitalists will be encouraged to continue to invest and build America. With a Obama win, you might see a rise in metals prices as people run towards more security.
Regardless of the election, gold and silver are strong long positions as the world economies unwind inflated positions in currency.
The world is waiting for this election. The investment value of metals should not change since the world financials will not change this evening. I suspect you will see a decline in metals if we have a Romney win. However, I think the prices will return to bull levels soon after. This may be a very good buying opportunity.
Our future and country are in God’s hands as we patiently await the results. Use knowledge to make wise choices and don’t let FEAR rule your world.