After a sad and difficult few weeks for the U.K., we take a look at how the Gold and Silver price moves in relation to all the activity surrounding our General Election in June.
The impact of the UK’s General Election on Gold & Silver prices
“Gold prices in India may increase beyond Rs 32,000 per 10 grams in the coming few months in case the voters throw up a highly fractured mandate leading to an unstable government at the centre,” industry body Assocham said in a study.
On the other hand, in case India gets a decisive government after elections even within a coalition framework, the investor bias will return towards equity and real estate and gold may lose in the bargain of portfolio shuffling.
In its study ‘Golden Connect of Indian Elections’, the industry body said at the moment, three important factors are driving the global gold market.
“Concerns over Chinese economy, uncertainty over the pace of the US economic recovery and the anxiety around the Indian general election. India and China are competing with each other for retaining the slot of being the number one consumer of the yellow metal.
“The demand in these two markets is going to increase should the two economies witness political or economic uncertainties,” says the study.
It said the trend of the investors is shifting again to gold as a safe haven asset as prices have risen over 10% so far this year.” (Times of India Business Section)
What is the price of Gold and Silver up to right now in Britain?
Election outcomes and how they might affect the Price of Gold
Headlines of Uncertainty
Gold is a safe haven in times of political, economic and international uncertainty and we can feel this becoming increasingly true. Watch the latest Jeremy Paxman interviews with Jeremy Corbyn and Theresa May below.