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:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
![AUD/USD keeps the positive outlook above 0.6615](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/AUDUSD/australian-currency-8768154_XtraSmall.jpg)
AUD/USD keeps the positive outlook above 0.6615
AUD/USD traded in an inconclusive fashion in line with the broader sentiment in the FX galaxy, hovering around the 0.6660 zone as investors got ready for the release of US CPI data on Wednesday.
![EUR/USD looked under pressure and approached 1.1000](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/money-euro-and-dollar-banknotes-17371247_XtraSmall.jpg)
EUR/USD looked under pressure and approached 1.1000
EUR/USD navigated with modest losses and traded at shouting distance from the key support at 1.1000 the figure amidst a vacillating mood in the Greenback prior to the publication of US inflation readings.
![Gold holds modest intraday gains above $2,510](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/safe-investment-gm147322399-17568598_XtraSmall.jpg)
Gold holds modest intraday gains above $2,510
Gold struggles to build on Monday's gains but manages to hold near $2,500 on Tuesday. Investors refrain from taking large positions ahead of Wednesday's highly-anticipated US inflation data for August, limiting XAU/USD's volatility.
![XRP could benefit from Ripple stablecoin, according to a crypto analyst on X.com](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Ripple/Ripple_Watch_XtraSmall.jpg)
XRP could benefit from Ripple stablecoin, according to a crypto analyst on X.com
Ripple (XRP) recently announced the launch of its stablecoin project, Ripple USD (RLUSD). In an interview at Korea Blockchain Week in the first week of September, CEO Brad Garlinghouse said that the asset’s launch is weeks away.
![Five Fundamentals for the week: Jittery markets fear the ECB, US inflation and more](https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Prices/CPI/consumer-price-index-gm500080630-80587217_XtraSmall.jpg)
Five Fundamentals for the week: Jittery markets fear the ECB, US inflation and more Premium
Is there still a chance? Investors hope for a 50-bps rate cut from the Fed but also fear a global recession is underway. The world's three largest economies, the US, China, and the eurozone, are set to rock global markets.
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.