Gold prices currently sit at $2,752 an ounce this Monday morning, up slightly from $2,750 at the beginning of last week.
By Friday, we may witness a pivotal moment in our nation's history as we potentially learn who our next president will be and who controls the U.S. Congress and Senate. Election Day is Tuesday, November 5th.
Join us on November 14th for a highly anticipated webinar, How the 47th President May Affect the Price of Precious Metals. This is not just another webinar, but a unique opportunity to gain valuable insights into the future of precious metals, insights that could potentially shape your investment decisions.
Also on deck this week, the Federal Reserve is meeting for an interest rate decision after Friday's report showing the lowest U.S. employment numbers since the peak of the 2020 COVID-19 pandemic. The interest rate decision could have significant implications for the economy.
Markets forecast that the Federal Reserve will cut interest rates by 25 basis points when it announces its monetary policy decision on Thursday at 2 pm EST. Traditionally, lower interest rates favor higher gold prices.
The December Federal Reserve meeting on interest rates and the future 2025 monetary policy may consider the proposed policies of the next president and the obstacles to implementation. A political party's control of the House and the Senate will have much to do with the speed of implementing Kamala Harris's tax increases or Donald J. Trump's across-the-board tariff policies for imports.
It's important to note that the implementation of proposed changes to tariffs and tax laws is not straightforward. These changes, whether they are Donald J. Trump's across-the-board tariff policies or Kamala Harris's tax increases, must first pass through Congress and the Senate before they can be signed by the president. On Tuesday evening, you can follow the battle for House and Senate seats on the Live Fox News Election Forecast map.
In our live U.S. Gold Bureau webinar next week, we will discuss the potential inflationary impact of new tariffs (Donald J. Trump policy) and the implications of increasing corporate taxes and a new tax on unrealized gains (Kamal Harris proposal). There will be a lot to unpack. Click here to register!
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byUnited States Gold Bureau