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What does the current lineup of Presidential Candidates think (or what have they said) about Gold, Silver, and Strategic Metals?

In spite of the roller coaster up and downs of different economic indicators, one thing has remained constant for roughly the last 3,000 years – the value of gold. Whereas no one disputes its value, there is an unending debate as to what is the best way to invest, purchase, or hold this prized yellow metal.

Moreover, as the 2016 US presidential elections are approaching, we expect to hear a lot of talk, touching on various social and economic aspects of the Country, from the presidential candidates.  Today, we will examine the stance of each of the current presidential candidates, on precious metals.

Presidential Candidates and Gold

Currently, there are three front-runners in the race to sit at the Oval office after President Obama’s 8-year reign comes to an end:

  • Bernie Sanders (Democrat)
  • Hillary Clinton (Democrat)
  • Donald Trump (Republican)

Here’s a look into the relationship between each of the presidential candidates and gold, among other strategic metals like silver.

Donald Trump

To begin with, Donald Trump, an astute businessman, is known to be a fan of the yellow metal. In fact, he owned between $100,001 and $250,000 worth of gold in July 2015. Even though Donald Trump is a billionaire he still believes on having a little extra insurance in the yellow metal.

The presumptive Republican Party’s nominee for president of the United States has opined that he likes the idea of a gold-backed dollar. When he signed a 10-year lease for the Trump Building, with 6 kilos of gold as security, Trump hard this to say:

“The legacy of Gold as a precious commodity has transcended to become a viable currency and an accepted universal monetary standard…”

“…Central Banks around the world are holding Gold as a reserve asset. It is also a terrific, potentially lucrative diversifier in a portfolio, especially with such volatility in the      stock     market.”

Hillary Clinton

Hillary Clinton has been in the limelight for decades as:

  • First lady
  • Senator from New York
  • Secretary of State
  • 2016 US presidential candidate

During her time in public life, however, Hillary has had no notable views on gold or any other precious metals. Her only notable pronouncements in relation to gold are captured when she vehemently talks about her stand on the Trans-Pacific Partnership Trade deal (TPP). For instance, in an interview with CNN, she had this to say:

“I did not work on TPP, I advocated for a multi-national trade agreement that would ‘be the gold standard.’ But that was the responsibility of the United States trade representative.”

Nonetheless, in the view of presidential candidates and gold, it is worth noting that the Democratic Party’s presidential candidate has long history of working to raise taxes on securities transactions. This might work in favor of ‘safe haven investments’ such as gold, silver, and other prized metals. Conversely, it will affect traditional investments like stocks and bonds.

Bernie Sanders

In the discussion about the US presidential candidates and gold, Bernie Sanders, Vermont senator and contender for the Democrat’s nomination against Hillary Clinton, cannot be left out. However, when it comes to views about the yellow metal and other strategic metals, Sanders has made no significant public pronouncements.

The only recorded time he publicly touched on something to do with precious metals is in his Wall Street Economy speech. In the speech, Bernie Sanders questioned why those who were allegedly involved in fixing precious metal prices were never prosecuted for fraud, let alone being jailed. According to him, the banks under investigation, in connection to the price-fixing fraud, include JP Morgan Chase and Goldman Sachs.

About his stand on a gold standard, some analysts are of the opinion that he would oppose it, even though there are no public pronouncements of his views on the same. This opinion is based on the premise that Sanders’ platform is laced with government promises, including free health care, free college, and increased social security. A gold standard would undermine the government’s ability to offer further privileges without tax increases.

Conclusion

The run up to a general election holds a lot of significance with regard to the progression of a country’s economy.  Hence, with the looming U.S elections, it is imperative that investors start considering how each of the three main presidential contenders would potentially affect their portfolio, especially their gold investments.

By examining the relationship between the U.S. presidential candidates and gold, this article will take you a long way into knowing which candidate’s presidency will favor your investments in gold and other strategic metals. Which presidential candidate do you think is best for strategic precious metals?