US presidential elections influence the purchase of precious metals

Purchases generally increase if a Democrat is elected to the White House. Purchases decrease if a Republican president is elected. The US election is around nine months away. In general, the growing distrust of governments has increased the attractiveness of owning physical precious metals. Net retail investment in gold in the USA amounted to around 48 tons between 2016 and 2020. In the period from 2021 to 2023, investments rose to an average of 112 tons. Silver stocks also roughly doubled when comparing the two periods (from just under 70 million ounces to just over 132 million ounces). However, there are many other drivers besides the US elections, such as price trends for metals or the level of inflation, which influence the attractiveness of physical gold and silver. For example, the name of the future US president is less likely to make a difference.

Gold and silver are forms of savings and investment with which citizens want to protect their assets. In the USA, many states have already introduced solid legislation to abolish the taxation of precious metals. This year more than a dozen states have decided to take this step. The most recent example is Wisconsin. There, an overwhelming majority voted in favor of abolishing the sales tax on the purchase of gold and silver. This means that 44 states have now removed barriers to the purchase of silver and gold. Only seven states remain.

Not only physical gold and silver are popular forms of investment, but also stocks of companies with gold and silver should be in focus, such as GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/goldmining-inc/ – with its gold and gold-copper properties in the USA and a uranium project.

In addition, there are shareholdings in U.S. GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ -, for example. The latter owns the promising Whistler gold-copper project in Alaska.

Current company information and press releases from GoldMining (- https://www.resource-capital.ch/de/unternehmen/goldmining-inc/ -) and U.S. GoldMining (- https://www.resource-capital.ch/de/unternehmen/us-goldmining-inc/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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