Is investing in gold during an election year a smart move?

May 23, 2024, 4:47 p.m. IST

After a strong start to the week both the gold and silver markets are struggling to find much upward traction. This is on the back of some short-term profit making, as well as FOMC minutes which were slightly more hawkish than the market had expected.

Despite how it has performed in the last couple of days, silver started the week making headlines (and for all the right reasons). Many of you contacted us to ask why now? What’s going on? So we made a video with out thoughts, you can find it here.

In other big news this week UK Prime Minister Rishi Sunak has called a general election for the 4th of July. This will be one of around 65 elections taking place around the world, in 2024. Elections are always important, but those taking place this year feel especially consequential given the fairly dire outlook for the global economy and geopolitical relations.

If you’re wondering how elections can impact precious metals then have a look at our newly released video. We take six factors that affect gold during elections and explain if this makes it a good buy this year, or not.

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About Author

Dave Russell

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.