How will US election impact gold and silver markets?
Bullion investors who support Donald Trump may get what they hope for.
The polls mostly favor a Trump win in key battleground states, though Kamala Harris appears to have a slight edge in the popular vote.
While Election Day is tomorrow, there is no certainty a winner will be declared before Americans wake up on Wednesday. Officials in many swing states have told voters not to expect results on election night.
Arizona bureaucrats are warning Americans that counting may take “10-13 days.”
The long delay in counting is just one of the concerns many Americans harbor regarding election integrity.
For a percentage of Americans, Joe Biden’s victory four years ago remains questionable. People increasingly lack confidence in U.S. elections. PBS reports that 58% of Americans are concerned about voter fraud.
The nation is even more polarized now than in 2020. A peaceful and routine transfer of power would come as a pleasant surprise to many Americans, who are expecting dirty tricks from the other side.
Some Democrat leaders have questioned Trump’s eligibility for office, claiming the former president led the January 6th “insurrection” and is therefore barred from office according to the 14th Amendment.
If Harris should be declared the winner, objections from the Trump campaign are all but certain. Cases brought in the courts last time around did not result in rulings that found widespread election fraud. Judges dismissed many of the cases on technicalities.
The Babylon Bee, a satire website, sums it up well with a headline that hardly seems satirical: "Nation Anxiously Waits To See Which Side Will Be Denying Election Results."
The uncertainty over the election has already crept into the bullion markets. Buying activity picked up significantly in October. Safe-haven demand for gold and silver could continue rising in the event of election turmoil or other outcomes that rattle the markets.