Analysts have predicted a bearish outlook for the U.S. dollar as the country’s 2020 presidential election approaches. One analyst says gold will correct with Donald Trump’s victory followed by the collapse of the U.S. dollar. Bitcoin, on the other hand, stands to gain from the election.
Effect of 2020 US Presidential Election on Gold, Dollar, and Bitcoin
Analyst and consultant Dan Popescu has shared his view on how the outcome of the U.S. presidential election could affect several markets. He discussed the outlook of the gold market and the U.S. dollar before and after the U.S. presidential election on the “IG Trading the Markets” podcast, which he shared on Sunday. Popescu specializes in gold, silver, and forex. IG is a leading online forex trading provider.
“Right now the markets expect [Joe] Biden to win, and that’s also one of the things that I’m quite sure has been bullish for the price of gold and the collapse of the dollar index, and that will continue,” Popescu described. Citing current polls showing Biden as the more…