U.S. Election 2024 Results: Gold Price Move Scenarios – This Is What History Tells Us

Nov 5, 2024, How will gold trade after the U.S. election? Gary Wagner, editor of The Gold Forecast, shares his technical and historical perspective on what various election result scenarios could mean for gold. Drawing on data from past election years, Wagner tells Jeremy Szafron, Anchor at Kitco News, how gold typically reacts between Election Day and Inauguration Day, from the Reagan administration to Biden. He offers insights on how gold will trade if Trump or Harris wins. Wagner discusses the implications of a contested election versus a clear sweep on gold’s trajectory, stressing that heightened uncertainty could spark a parabolic move to his target of $2,865. With the Fed also expected to cut rates this week, Wagner shares his gold price outlook and identifies key technical levels to watch, noting that a pullback to $2,600 could represent a buying opportunity in today’s volatile environment. 

00:00 Introduction: U.S. Election 2024 

01:31 Historical Gold Performance During Elections 

03:54 Hypotheticals: Election Outcomes and Gold 

07:56 Geopolitical Tensions 

12:24 Watching the Fed 

14:21 Gold Price Predictions and Technical Analysis