will it last Three reasons why gold prices soared after the assassination attempt on Trump

The assassination attempt against Donald Trump on Saturday caused a sharp rise in the prices of precious metals, especially gold.

We spoke with the CEO of one of our partners, Jonathan Rose a Genesis Gold Group, to find out why this is happening and whether it is a temporary spike or a sustainable trend. He gave us the main reason why it's happening, then explained why he thinks precious metal prices will continue to be solid investments for retirement savings or stashing in the safe even after the election.

Market instability

“Major geopolitical events always cause market fluctuations, and the attack on President Trump definitely qualifies. Gold, silver and, to some extent, cryptocurrencies will see spikes as a result, but there are other factors that will likely keep the long term gains.

“Further signs of rate cuts from the Fed have gold holders very excited. Those who want gold for retirement or for home storage are also clearly excited as we have had an increase in inquiries over the last days”.

Cultural instability

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“It's easy to see the political implications of the attack, as President Trump is on track to win by a wide margin. But there are cultural implications that have people on both sides of the political aisle worried about the future.

“Most notably, Americans are worried about the chaos that could ensue regardless of what happens on Election Day. Those concerns were justified before the assassination attempt and are even more justified now. Having 'safe' investments “how physical precious metals are starting to make sense to a lot of people.”

“New normal” in precious metals thinking

“Democrats in power have been good to precious metal prices in the past, but a new paradigm is forming that actually favors a Trump presidency benefiting gold and silver. This shift stems from the elevated sustained inflation that we have seen for three years.

“Trump's policies thrive best with a weaker US dollar. Combine that with the likelihood of rate cuts in the near future and it's easy to see why a Trump presidency would help gold and silver prices rise sharply even though we are now at record highs.”

Genesis Gold Group is a faith-based company that specializes in helping Americans rollover or rollover their retirement accounts into Genesis IRAs backed by physical precious metals. They exclusively distribute the “Prepper Bar” which can also be purchased directly to be shipped directly to your customers.

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