IBTimes Commodities: Oil limps up as Saudis acknowledge production deal unlikely in Algiers

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The Pure Gold Company

12/08/2016

The International Business Times on the effects of the US elections, Brexit and all this uncertainty on physical gold demand. The Pure Gold Company are quoted discussing the market trends leading up to the US election. Many are being pro-active in readiness for the US election on the 8th of Novemeber.

By Gaurav Sharma

Away from the oil market, precious metals were largely in negative territory, excepting silver. At 12:14pm BST, the Comex gold contract was down 0.11% or $1.40 to $1,329.00 an ounce, while spot platinum fell 0.25% or $2.60 to $1,023.75 an ounce. Concurrently, Comex silver contract reversed steep declines from earlier in the week to post an uptick of 0.23% or ¢5 to $19.21 an ounce.

Uncertainty about the outcome of the US presidential election continues to stoke appetite for gold, according to Josh Saul, chief executive officer of The Pure Gold Company.

“Most of the people enquiring about buying physical gold are of the opinion that either candidate, when elected, will add uncertainty, be detrimental for the dollar and therefore good for gold. We can see people being proactive in readiness for the US election [on 8 November].

“With sterling close to Brexit lows, fewer families have taken holidays as they consider how best to protect their wealth ahead of even more uncertainty during the US elections. The general and consistent sentiment at the moment is one of worry, and they are referencing the financial crisis of 2008-09 as their motivation to act fast and be proactive about investing, especially in physical gold.”

Source: The International Business Times

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"Most of the people enquiring about buying physical gold are of the opinion that either candidate, when elected, will add uncertainty, be detrimental for the dollar and therefore good for gold."

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