Ron Paul Says “Gold Going Up” Whether Trump Or Clinton Elected
Gold prices “are going up” whether Trump or Clinton are elected according to most analysts in the gold market including former Libertarian and Republican presidential candidate Ron Paul.
Even Goldman Sachs, the primary significant bearish voice regarding gold prices is now bullish on gold in the medium and long term.
Ron Paul, an astute observer of the markets, warned in a CNBC interview that “if investors are looking for the next U.S. president to create stability in the markets, it’s not going to happen.”
Along with jitters about the Federal Reserve’s next move on interest rates, investors are weighing whether Democratic contender Hillary Clinton or Republican nominee Donald Trump will be better for investors. The libertarian icon and former Texas Congressman suggested market players may not want to hold their breath.
“Politically speaking, there is going to be a lot more uncertainty and that may go into the markets … If people are depending on political stability to get the market going I don’t think it’s going to work out.”
“I think [the election] is up for grabs. It will depend on how many people stay at home,” he explained. “People are so disgusted with the two candidates that it’s pretty hard to predict”which will prevail, he said.
For Paul, it doesn’t matter what the outcome is in November, as he doesn’t see much of a difference between the two parties.
“Nothing ever really changes regardless of which party wins. Governments keep growing, the deficits keep growing and the Fed keeps borrowing and printing more money,” he said. “I don’t expect a lot to change.”
But there is one area of the market that the former Libertarian and Republican presidential candidate sees flourishing in the long-term – Gold:
“If the economy is truly getting better, that would be better for gold long-term,” said Paul.“Short-term gold has taken a big hit and it could very well go down more, but it’s still up 10 percent from a year ago.”
Paul noted that gold has returned 300 percent since the year 2000 while the Nasdaq has rallied just 6 percent.
“The laws of economics are more powerful than all the politicians and all the bankers. It’s just that it’s erratic and very up and down and takes a while to sort out,” Paul added.