Trump vs. Biden: $4K gold target as Brandt eyes Bitcoin ‘big buy signal’

摘要： The upcoming U.S. election results can’t stop a fresh gold advance, one analyst says, while Bitcoin is also due fresh bullishness.

Gold will gain regardless of whether Donald Trump or Joe Biden wins the election, one analyst says as Bitcoin (BTC) targets $11,000.

In an interview with the media division of precious metals giant Kitco on Oct. 7, Frank Holmes, CEO of U.S. Global Investors, said that he was “betting on gold” for bullishness by the end of the year.

“It’s love season. It’s the seasonality of two wedding seasons in India, it’s the season of lights of Diwali, then we have Christmas, and it peaks for Chinese New Year,” he told the network.

“It’s an auspicious time for the consumption of gold, and it’s most highly correlated with GDP per capita growth.”

Gold, like Bitcoin, saw highs in August before a fall which came in line with renewed strength in the U.S. dollar currency index (DXY). The outcome of November’s U.S. election has the potential to influence USD standing considerably, but Holmes believes gold will shake off the result.

“Some are betting on blue, some betting on red, and I’m betting on gold,” he added.

As Cointelegraph reported, gold bug Peter Schiff has also painted a less-than-optimistic outlook for the dollar, arguing that a Biden win would be the worst case scenario.

Holmes confirmed that he was eyeing a $4,000 price target for XAU/USD.

......

詳見全文Full Text： cointelegraph.com

若喜歡本文，請關注我們的臉書 Please Like our Facebook Page： Big Data In Finance