Republicans good for gold?
In the past 48 years, gold has performed better under a Republican president than under a Democrat head. However, data shows that gold posted a record return under Democrat rule, rising 322% during Jimmy Carter’s presidency. That was a fallout from the oil shock of 1973. The second-best performance was under Richard Nixon consequent to Opec’s oil embargo.
The third-best performance, when it returned 103%, was during George Bush junior’s second term. But, again the highest price of $1,913.50 an ounce was during Democrat President Barack Obama’s first term.
Gold traders are hoping that under President Donald Trump, prices which have been stuck in a $100 range through $1,260 so far this year will breach $1,300 in time, courtesy of his stated resolve to boost government spending and huge tax cuts, which would spur inflation.
The third-best performance, when it returned 103%, was during George Bush junior’s second term. But, again the highest price of $1,913.50 an ounce was during Democrat President Barack Obama’s first term.
Gold traders are hoping that under President Donald Trump, prices which have been stuck in a $100 range through $1,260 so far this year will breach $1,300 in time, courtesy of his stated resolve to boost government spending and huge tax cuts, which would spur inflation.
