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 a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. 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 keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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