JPMorgan: Gold is the preferred commodity for hedging against the US election

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Cointime2024/11/05 09:33

By:Cointime

gold futures rose 0.2% to above $2750 per ounce. Morgan Stanley analysts stated in a report that gold is the preferred commodity to hedge against the upcoming US election. Morgan Stanley indicated that a Harris victory would signify continuity of policy and trend growth, whereas a Trump victory could lead to significant policy changes. Therefore, if Republicans sweep the election under Trump's leadership, gold and silver may continue to rise under the influence of market uncertainty. Morgan Stanley stated that in any case, gold should continue to be supported by structural bullish factors, including increasing concerns about US fiscal debt and support for the Federal Reserve's rate cycle.

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Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan•2024/11/24 03:44