Kitco News
(Kitco News) – Election Day is starting to wind down, and the following is a list of when polling stations are closing.
The post When to expect election results appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Gold market has been treading water, stuck in a consolidation pattern for more than a month as political uncertainty has dominated the marketplace.
The post 2016 election gold price shocker, can it happen again? appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Gold price, silver price latest market reaction to the Election Day 2020 updates.
The post Election Day 2020 LIVE UPDATES: Gold price latest market reaction appeared first on WorldSilverNews.
Kitco News
(Kitco News) – After months and weeks of uncertainty and turmoil Americans are now heading to the polls to cast their vote in what is expected to be an unprecedented Election Day.
The post How to take advantage of the impending commodity super bull cycle – Andy Hecht appeared first on WorldSilverNews.
Yahoo! Finance: SI=F News
Gold futures settle at their highest in a week on Tuesday as investors focus on uncertainty about the outcome of the U.S. elections and the Federal Reserve’s two-day policy meeting.
The post Gold prices mark 1-week high as investors brace for U.S. Election Day outcome appeared first on WorldSilverNews.
Keith Weiner
Tue, 11/03/2020 – 15:05
The 2020 presidential election has been a tumultuous one. With gold prices hovering between $1,900/oz. and $1,930/oz. in October, could prices go up once the election is decided in November? We examine elections dating back to the 1980s to see what we can learn about post-election gold prices.
Just as U.S. presidential campaigns can go up and down, so too can gold prices fluctuate after presidential elections.
In the months after Donald Trump defeated Hillary Clinton in 2016, gold fell, going from more than $1,300/oz. to the low $1,100s, MoneyWeek points out. But then, in Trump’s first year in office, gold rose by $200. The yellow metal began 2017 at $1,150/oz. and ended at $1,350/oz. Toward the end of Trump’s first term, gold surpassed a record high of $2,000/oz.
In the first year of Barack Obama’s first term, gold surged to record highs, according to MoneyWeek. However, gold then experienced four years of market stress.
Under George W. Bush, gold enjoyed eight years of a bull market, rising from below $300/oz. to more than $900/oz., according to MoneyWeek. Yet after Bush won a second term, gold saw a brief blip, retreating 10%.
Gold also retreated after Bill Clinton was elected to his first term. But in his first year in the White House, gold bounced back, MoneyWeek notes. His second term, though, produced all-time lows of around $250/oz.
In his only term, Clinton’s predecessor, George H. W. Bush, watched the price of gold go down, according to MoneyWeek. Before that, gold jumped during Ronald Reagan’s second term, although it sagged right after he was elected. But in Reagan’s first term, gold headed into a valley, plunging from more than $600/oz. to less than $300/oz., MoneyWeek reports.
According to TV station KOMO, gold prices usually increase in September ahead of a presidential election and decline in the days before Americans head to the polls in November. On average, gold prices continue to taper until the following January.
Here’s a different look at the performance of gold after three previous elections:
So what’s the upshot of all this?
“A close look at historical gold price movements in the aftermath of previous U.S. presidential elections suggests little evidence of a clear relationship between the gold price and the election outcome based on party affiliation,” according to data, analytics, and technology provider Refinitiv.
Refinitiv goes on to explain that gold “seems to have recorded better and worse years under the leadership of both parties—and even exhibited contrasting performance under the same administration during two successive terms.”
The company concludes that underlying macroeconomic conditions play a greater role in the movement of gold prices than do pure politics.
Refinitiv believes that the near-term outlook for gold after the 2020 presidential election indicates near-term price volatility no matter the outcome. However, Refinitiv also predicts that gold prices will set a new high before year’s end. In the midterm to long term, the environment for gold remains “highly favorable,” the company reports, as either Donald Trump or Joe Biden will be dealing with economic instability, low interest rates, and continuing tension between the U.S. and China.
According to Kitco News, some experts envision that gold’s price forecast could be further impacted by which party ends up controlling Congress and whether the presidential election results are contested.
Investment bank JPMorgan Chase & Co. foresees a 2 to 5% spike in gold prices if Biden and fellow Democrats lead a “blue wave,” Financial News reported. But if Biden wins and the Republicans retain the Senate, JPMorgan analysts predict a 2% rise in gold prices. Meanwhile, a Trump win could knock 5% off gold prices in the short term, but a contested outcome could boost gold prices by 2 to 5%.
Stay on top of gold prices after the election. Bookmark U.S. Money Reserve’s gold price chart page now and check out these gold price tracking resources.
The post A Historical Look at Gold Prices After U.S. Presidential Elections appeared first on U.S. Money Reserve.
New year. New coins designs. U.S. Mint unveils new look for 2021 American Eagle silver coin.
In early October of 2020, the U.S. Mint announced some big changes are coming for its best-seller: the American Eagle silver coin is getting a makeover in 2021. Never before in the 34 years since the American Eagle’s inception with the passage of the Liberty Coin Act has the design for the coin changed.
The change marks a once-in-a-generation opportunity to witness the history of American coinage in the making. And to add a piece of it to your personal collection.
Get the details about the new American Eagle design and release date below.
The design of the Silver Eagle is changing. Details about the redesign of the coin are still emerging. Here’s what we know so far:
The most significant changes to the American Eagle silver coin will be to its reverse or tails side.
It’s getting a complete makeover.
A sketch the U.S. Mint released reveals a much more dynamic image will replace American sculptor John Mercanti’s heraldic eagle: an eagle in the wild coming in for a landing.
In Mercanti’s version, the eagle clasps the symbols of war and peace—arrows and an olive branch—in its talons; a shield with stripes suggestive of the American flag covers its chest.
The new reverse portrays the eagle carrying an oak branch, possibly to place in its nest, which is not shown. Absent are the 13 stars representing the original colonies.
‘My inspiration for this design grew from a desire to show our national bird — with all of the values it embodies — in a unique way that could also convey traits such as diligence, cooperation, care, and protection,’ explained the designer of the new reverse Emily Damstra, who is a member of the Mint’s Artistic Infusion Program (AIP).[1]
The inscriptions surrounding the eagle remain the same: “ONE DOLLAR,” “1 OZ FINE SILVER,” and “UNITED STATES OF AMERICA.” However, in the old reverse, “E PLURIBUS UNUM” was scrolled across a banner the eagle held in its mouth; in the new design, the national motto is engraved just interior to the coin’s weight and metal content.
The reverse design of the new 2021 1 oz American Silver Eagle Coin colorized by SBC Gold.
Rather than an entirely new look, the U.S. Mint is giving the obverse design of the silver American Eagle a “refresh.”
That means Adolph A. Weinman’s glorious walking personification of Liberty is here to stay. You can read a full description of the image here.
We’ll update this article as the Mint releases more details, so check back soon.
The 2021 Silver Eagles will offer collectors greater security in the form of new anti-counterfeiting technology. Details to come…
No mention was made of changes to the 2021 Silver Eagle’s coin specifications. However, we’ll know for sure once the Mint releases its official statement.
| Diameter: | 40.6 mm |
| Thickness: | 2.98 mm |
| Net fine weight: | 1.00 ozt |
| Weight: | 31.103 g |
| Face value: | $1 |
‘These beautiful designs build on the United States Mint’s heritage of artistic excellence and fortify the American Eagle Coin Program’s status as an icon in the numismatic and art worlds,’ said Mint Director David J. Ryder.1
The newly designed 2021 Silver Eagle bullion and collector edition coins will be released in the summer of 2021.[2]
Yes, 2020 is the last year for which the Silver Eagle will feature the original 1986 designs.
The 2020 Silver Eagle is the last of its kind. And a marker of this major turning point in the history of the country’s coinage.
Speak with a Scottsdale Bullion & Coin advisor today about adding one to your collection. Call 888-812-9892.
Yahoo! Finance: SI=F News
The experience of American elections has arguably become more stressful thanks to the proliferation of polls. If the only count that matters are the votes on election day, why do we spend so much time trying to figure it out ahead of time? The answer is because democracy matters (at least for now.) The importance of polls reflects the weight that America, home to the world’s most expensive election campaigns, puts on it voters, and media’s efforts to help the public keep up.
The post Polling is driving us mad, but the alternative would be much worse appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Markets might not get clear results from the U.S. election on Tuesday, according to StoneX.
The post Gold price ahead of U.S. election: ‘We cannot be certain of a clear result on Wednesday’ – StoneX appeared first on WorldSilverNews.