Recently, all attention was focused on the US presidential election, that is why the markets were volatile. The presidential election took place on November, 3. Everyone expected that everything would be fine, but it did not happen. Donald Trump refuses to admit the fact that he lost the race for the presidency. He is filing lawsuits in court, believing that the results of the vote were rigged.
It looks like the situation in the country will be troubled in the near future. Moreover, there are fears of the beginning of a real civil war, due to the split in the American society.
Experts believe that the US has two paths: either a lengthy trial, or chaos and lawlessness. It is worth remembering what happened in the summer in the United States, when the groups of looters were given complete freedom of action. Now, the same scenario may repeat.
It is difficult to say how the situation in the country will affect the financial markets. One thing is certain - the market situation remains positive until politicians intervene in the economy. In any case, central banks will continue to print unsecured money to defuse any signs of instability and anxiety.
As far as gold is concerned, the prospects for the precious metal are quite positive. Analysts believe that gold will continue to rise in price in the next 4-6 weeks. And in the first quarter of 2021, the price may surpass $2,000 per ounce. Perhaps gold may set a new record again.
Gold has already reached $1,860 per ounce. According to experts, the long-term correction is over. Probably, there is a chance of growth to $2,020 per ounce. In mid-December of 2020, gold may start moving towards the $2,000 mark, as analysts say. Therefore, investors can look forward to a strong first quarter of 2021.
By the way, today, on Tuesday, gold futures rose again during the trading.
Gold futures for December delivery advanced by 1.45% to trade at $1,881.25 per ounce. The support level is located at $1,848.00 and the resistance level is at $1,966.10.
Silver rose in price, as well, by 2.65% to hit $24.330 per troy ounce. Copper also grew by 0.10% to trade at $3.1383 per pound.
The US Dollar index futures, which measures the US dollar against a basket of six major currencies, lost 0.07% to settle at $92.653.
