Flag resistance (upper end) is seen around $1415. Prior to that, metal faces a major hurdle at $1380 (38.2% Fibo retracement of 2011 high – 2015).
A lot of attention has been given to gold’s relationship between USD index, easy , interest rate, stocks, etc.
But there is little talk out there on gold’s performance during US elections. To the naked eye, studying the exact relationship/behavior is difficult since hundred other things were going on in the election years.
Today’s London Open show – http://www.tiptv.co.uk
In today’s London open Finance show, we discussed gold’s performance in the US election years, the conclusion being –
• Gold likes democrat victory, while stocks cheer republican victory (Trump!)
• Gold does better post elections than in the run up to elections
• Gold usually likes second term for existing President (not the case this time)
• Silver has performed poorly in 18 out of 25 election years
In case, we have Clinton victory, we could see a break from – a continuation pattern, which means continuation of rally from 2000 lows.