Colin Cieszynski, chief market strategist at SIA Wealth Management, joins BNN Bloomberg to share his outlook on gold and U.S. stocks.
Spot bullion was near US$2,400 an ounce Monday in London, paring earlier gains. Biden said he would serve out his term and endorsed Vice President Kamala Harris to replace him as a candidate, though she still must secure the official nomination at the Democratic National Convention next month. Still, onlookers have mixed views on what a potential Trump victory would ultimately mean for the precious metal. Some markets have ramped up bets on a so-called “Trump trade” amid expectations for higher trade tariffs, increased U.S.-China tensions and looser fiscal policy under his leadership.
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