Are good things coming for gold? According to the World Gold Council, the midterm elections could help spur an uptick in prices. A recent report detailed that gold prices have risen 62% of the time over the six months following midterm elections, with a median return of 2%. In other news, former Treasury Secretary Larry Summers believes the Fed would need to hike interest rates by more than 6% to crush stubborn inflation.

Business Insider/Theron Mohamed
The Fed may need to hike interest rates above 6% to crush stubborn inflation, ex-Treasury chief Larry Summers says

Unrelenting inflation could force the Federal Reserve to hike interest rates to north of 6%, the highest level in more than two decades, Larry Summers has warned.

The US central bank has rapidly raised rates from virtually zero in March to a range of 3.75% to 4% today, in a bid to cool the economy and bring down inflation from near 40-year highs.

Yet prices rose an annualized 8% in September — not far off their peak pace of 9.1% in June — and there’s little sign of demand weakening or the labor market softening.

You can read the full story, here.

WSJ/Hardika Singh
Gold Typically Ticks Up After Midterms, World Gold Council Says

Gold prices have risen 62% of the time over the six months following midterm elections, with a median return of 2%, according to a World Gold Council report using data going back to 1970.

This year, according to Joe Cavatoni, chief market strategist at World Gold Council, gold prices are more dependent on broader factors than the outcome of the election. Gold prices have retreated 8% so far this year, dragged down by higher bond yields and a stronger U.S. dollar.

“Ultimately, monetary policy is continuing to be the focus,” Mr. Cavatoni said.

You can keep reading, here.

CNN Business/Nicole Goodkind
What midterm elections could mean for the US economy

Tuesday’s midterm elections come at a time of economic vulnerability for the United States. Recession predictions have largely turned to “when” not “if” and inflation remains stubbornly elevated. Americans are feeling the pain of rising interest rates and are facing a winter filled with geopolitical tension.

The results of Tuesday’s election will determine the makeup of a Congressional body that holds the potential to enact policies that will fundamentally change the fiscal landscape.

Here’s a look at what policy issues investors will pay particular attention to as they digest election results.

Continue reading, here.

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