Before an Election
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The price of gold has exhibited an interesting pattern in the 11 months preceding the last two presidential elections in the United States. In both instances, gold prices have experienced an upward trend.
2020 Presidential Election
In the 11 months leading up to the 2020 presidential election, the price of gold rose by 22.4%, from $1,516.66 per ounce in December 2019 to $1,852.37 per ounce in November 2020.
2016 Presidential Election
Similarly, in the 11 months preceding the 2016 presidential election, the price of gold increased by 17.5%, from $1,075.59 per ounce in December 2015 to $1,258.20 per ounce in November 2016.
These trends suggest that gold prices tend to be volatile in the months leading up to a presidential election, potentially reflecting increased investor uncertainty and hedging strategies.