Why Gold trading in times of coronavirus and U.S. Presidential Election is safest?
Gold to be a ‘safe haven’ in crises like the coronavirus!
“Gold—what can it not do, and undo?”—William Shakespeare once said.
Investors’ fear levels are particularly high right now, as the coronavirus pandemic turned a global health crisis into an economic one. And it’s uncertain when the world will recover from either of these crises.
It is in such times of uncertainty that gold is touted as a “safe haven” for those looking for shelter from more traditionally volatile investments, like stocks.
High Profit-Making Potential
When you trade gold, you will be able to take advantage of high liquidity. Gold trading can be executed 24 hours a day, 5 days a week, and as gold is an extremely liquid asset, its potential to be bought and sold is virtually relentless, meaning that it is very easy to achieve high returns on invested income.
Gold price to climb regardless of election result, analysts say!
While there are many arguments over who will be the next US president, one thing most appear to agree on is that the price of gold will be higher no matter who is in office, according to our analysts at Seven Capitals.
Though its price has since pulled back to around $1,900, it has remained at historically high levels amid low to negative interest rates and economic uncertainty related to the ongoing covid-19 pandemic.
Spot gold declined 0.4% to $1,871.08 per ounce by 3 p.m. EDT Thursday, while US gold futures dropped 0.5% to $1,869.90 an ounce.
Meanwhile al lot of speculations are going around the prices of gold, one thing is assured that different types of exposure to gold, will make it “perhaps the best way to a diversified solution for an investor.