After Tuesday’s big election, we’ve been keeping a close eye on the price of gold. As we’ve told you before, the price of gold fluctuates greatly with major socioeconomic milestones. With the re-election of Barack Obama gold prices have risen slightly. The theory behind the increase?
“I think with the election behind us, traders and speculators are refocusing on monetary and fiscal policy, and they see these as being positive for gold and that might be contributing to today’s strength,” said Jeffrey Nichols, senior economic adviser at Rosland Capital. “
Only time can tell for certain what effect the election will have on gold’s greater trajectory, and this infographic shows how gold has behaved under the last few presidents. Currently, today’s gold price is just over $1731.