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What Does the Current Election Year Have to do with Gold Prices?
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Precious Metals Brokerage Group, International (PMBG) Presents Timely Pre-Election Insight about the Influence of Presidential Election Cycles on Gold Prices
In 2012, Gold was back up only 4% year-to-date (down from prior 16% year-to-date highs in February) until the announcement of QE3, or as some call it QE infinity. Since the announcement Gold is back up to 15%+ year-to-date, so despite mid-year oscillations the gains in 2012 have still produced double-digit returns. There is a connection between all the Presidential election years and gold prices with statistics indicating that gold prices fluctuate around the four year election cycle; especially the 2008 and 2012 cycles. PMBG takes a close look at the gold rush roller coaster of election years.
With an average annual increase of 17% every year ever since the beginning of the last decade’s bull run (up nearly 550% since January 1, 2002, Gold has had a solid track record. But, 2004, 2008 and 2012 have all been lack luster years, with pullbacks and oscillations pre-election as the norm. In fact, single digit growth was a common denominator during 2004 and 2008 and is yet to be determined for 2012. The gold market has come to expect a bull run of double digits every year and with these expectations, having 2004, 2008 and 2012 all coincide with elections in the US, the market has tended to see relative dollar strength and resulting weak gold performance, or at least comparative weakness.
Read Full Press Release Here: http://www.prweb.com/releases/2012/10/prweb10013340.htm
2012-10-21 22:20:28
Source: http://www.pmbg.net/2012/10/current-election-year-gold-prices
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