We’re officially in the throes of an election year, and the uncertainty is palpable. Across the political aisle, people are concerned about how this tumultuous presidential race will impact the economy and their investments.
Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Precious Metals Advisor Todd Graf and Precious Metals Advisor Brian Conneely discuss the results of the Iowa Caucus, why 2024 might be the most contentious election in US history, and how investors can protect their wealth.
Trump Sweeps Iowa Caucus
Donald Trump secured a landslide victory in the Iowa Caucus at the beginning of the week, setting a high bar for fellow GOP nominee hopefuls. The former President garnered 51% of the votes, more than twice that of the closest competitor, Florida Governor Ron DeSantis.
Following the Hawkeye State’s clear results, tech mogul and former rival Vivek Ramaswamy endorsed Donald Trump. Given the candidates’ shared vision and policies, many believe the support will boost Trump’s already substantial lead. As a consistent bellwether for the rest of the country, Iowa’s results are seen as a strong indication of Trump’s nomination.
A Polarizing Election
2024 is shaping up to be one of the most contentious elections in recent memory. The incumbent president claims former President Trump is a threat to democracy, while Republicans point to Biden’s failed policies, unraveling corruption scandal, and questionable cognitive acuity. Many people worry about civil unrest following a Trump victory, yet a Biden triumph would usher in four more years of Bidenomics. No matter the outcome, the country is divided politically, which doesn’t bode well for post-election cooperation and economic improvements.
Economic Uncertainty is Almost Certain
The lead-up to the 2024 election hasn’t been reassuring for investors who have suffered a deluge of supply chain disruptions, bank crises, inflated prices, and currency devaluations. Adding a heated and fractious political battle to the equation only exacerbates the pervasive sense of unease in the economy.
There’s a lot of uncertainty around this election.–
Regardless of the results, the American people are still facing existential threats with the rise of a central bank digital currency (CBDC), the astronomical US debt, and the global process of de-dollarization. Investors are concerned about further erosion of their financial control, privacy, and autonomy.
Diversification is the Solution
There’s no predicting who will become president in 2024 and no guarantee their actions will improve the economic situation. Investors’ only influence over their financial future is leveraged through their portfolios. In the face of increasing uncertainty and rising economic challenges, diversification is the solution.
Due to disastrous economic consequences, savvy investors have been turning to precious metals for their inherent value.
“Owning gold [and] silver is an excellent way of diversifying some of your assets into something that is real and [reliable].”
This massive surge in demand combined with the formation of a Cup and Handle Pattern in gold prices has many experts expecting a quick upward movement in the near future. This comes on the back of already impressive 2024 gold price forecasts.
Learn how to make the most of your precious metals investments by claiming a FREE copy of our Precious Metals Investment Guide.
Worried about digital currencies? Learn about the extent of this threat and how you can protect your wealth and privacy with our in-depth CBDC Report.
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