June and July are normally the months that gold sells off, because these are the months where Asian buying dries up so that the big banks can knock the gold price down with massive short sales of future contracts. They tried, but failed, as gold has managed a muted if somewhat controlled rally.
Why? Because though gold likes massive money printing, massive deficits, and unbearable debt loads all of which the Trump administration has delivered to the Gold Community, gold LOVES INSTABILITY.
Trump campaigns/governs (there is no distinction in the Trump Party) on Massive Instability. His fourth of July speech was full of promises to Destroy his fellow citizens on the Left in the same way America destroyed Hitler, Stalin and Bin Laden.
Why is Trump so set on supporting the Gold Price? Who cares?
As we get closer to the election Trump's rhetoric of Instability, his promises of Violence, Rigged Elections, and his laying the groundwork to contest his loss by declaring a National Emergency over election Fraud will send gold to record highs.
Count on it. This will be so massively destabilizing to the American - and global political and economic system the Gold Price is sure go go ballistic.
Let's say Trump actually wins the election. His campaign of destabilization will continue unabated - and his refusal to deal with the carona virus will continue to destroy the real economy - also great for gold.
Let's say Biden wins and Ttrump graciously concedes (Ha ha ha). The Fed's balance sheet will still be 10 Trillion dollars, the Federal annual deficit will still be 2 Trillion, and corporate taxes will go back up forcing even more money into gold.
The Trump damage has been done. It's win win win for gold.
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