What will the high-stakes Trump-Harris presidential debate mean for Gold prices? [Video]
|It's a fact, the high-stakes U.S Presidential Election is capturing the world's attention as one of the biggest and most lucrative macro trading opportunities of this year, if not this decade.
On Tuesday, Donald Trump and Kamala Harris will finally square up in their ‘first and only’ televised debate of the 2024 election campaign in what promises to be a defining moment in the race for the White House.
The debate in June between President Joe Biden and Donald Trump was arguably the most consequential televised debate in modern history. Biden’s shaky performance set off a Democratic panic that led him to drop out of the race – making Biden the first sitting commander in chief not to seek re-election since Lyndon Johnson in 1968.
The live debate was seen by almost 52 million people across the world, closely comparable to the NFL Super Bowl or UEFA Champions League final – which so far, remains the most-watched moment of the 2024 U.S Presidential race.
However, records are made to be broken and that's certainly the expectation.
Major broadcasters expect an estimated 100 million viewers will tune into what is anticipated to be one of the greatest market-moving showdowns in Congressional history that traders will not want to miss out on!
In the lead-up to this weeks ‘Pivotal’ Trump-Harris debate signs of angst have already been mounting. The VIX index, which measures stock market volatility, soared to its highest since the March 2023 banking crisis – sending Gold prices skyrocketing within striking distance of the all-time record high set only two weeks ago.
And this could just the beginning!
Ahead of Tuesday’s high-stakes presidential debate, recent polls showed Donald Trump leading Kamala Harris in two crucial swing states.
It goes without saying that the importance of this development cannot be understated.
In fact, traders are already starting to price in a Donald Trump victory in November – which could spur a “new super bull” in Gold off the back of a multitude of factors including – tariffs of 60% or higher on foreign goods, a surge in infrastructure spending and tighter sanctions on Iranian oil – all of which could reignite global inflation.
During Donald Trump’s previous presidency – Gold price rose substantially, soaring from $1,200 an ounce when he took office in January 2017 to over $1,900 an ounce in his final month of January 2021.
According to GSC Commodity Intelligence – “the possibility of a Donald Trump victory in Tuesday’s high-stakes Presidential debate and potential return to the White House in November will inevitably mark the return of the famous Trump Trade”.
And that's unquestionably ultra-bullish for Gold.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
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