(PRWEB UK) 2 November 2012
A report from analytics firm, GoldCore, predicts that gold prices will rise much higher next year regardless of whether Barack Obama or Mitt Romney is elected as US president.
Many investors are awaiting the results of the US election on Tuesday November 6 before buying further gold, which has seen gold prices stall this week. However, prices are set to go much higher during the next president’s term despite who is elected.
The US fiscal cliff due in January is likely to support gold, with steep government spending cuts and tax hikes expected to lead to higher gold prices in coming weeks.
The report predicts that depending on which candidate is elected; gold prices are expected to experience short term weakness but will increase over the long term with monetary challenges facing the Federal Reserve and White House.
A spokesperson from Physical Gold said:
“Gold prices are heavily influenced by US affairs and the upcoming presidential election has been affecting prices of late as investors wait and see who is elected. However it is very encouraging that gold prices are expected to rise greatly no matter the outcome. Investing in gold bullion bars and coins is a sensible choice with expected gains next year and further monetary easing methods expected worldwide.
“Gold investment can help provide a well balanced portfolio and acts as a great hedge against interest, which is promising when bank interest rates remain rather disappointing in comparison.”
Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.