How is Gold reacting after the midterm elections?

Written by Mike Hammer

Well, you survived it. Months of campaign ads, haranguing, debating, and general buffoonery are finally over. Now we get back to the real business of our elected leaders – vying for 10-second spots on the evening news, suing each other, and trying to buy your vote with your kids’ money.

For gold, in the near term, the effect seems to be nothing. New York morning gold is down 3 USD, not quite rounding error against a price of 1230. Time will tell if our prediction yesterday will come true, but so far so good.

Here at the Gold Enthusiast, we believe the two primary drivers of gold price are the value of the local currency and geopolitical events. Does the morning news say anything applicable about those two? Turns out the answer is…

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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