The past week has been anything but business as usual in the United States. Following the riotous insurrection attempt at the Capitol building in Washington, D.C., on the January 6 — the first such act there since 1814 — moves are underway to impeach President Donald Trump after many in congressional leadership have cited him as at least partly responsible for inciting the violent and deadly events. Meanwhile, incoming President-elect Joe Biden is bringing a sense of uncertainty, too. Will more protests erupt on inauguration day? Long term, what does Biden’s presence in the Oval Office do for the economy, for industry, and other socioeconomic fronts?
Gold prices have been in a state of tumult this past week, falling from nearly $1,950 less than two weeks ago down to $1,838 this morning. The next week could tell us all we need to know about where gold prices go during the next quarter, as Trump’s impeachment hearings move from the Congress to the Senate and Trump is replaced by Biden in the White House. Is more violence set to unfold in the streets? Will Biden signal strong economic growth for the United States? Does the economic policy the new administration sets forth portend a strong metals market in the weeks and months ahead? Investors wait, and gold prices hang in the balance.