Spot pricing for Gold $AU3509

Spot pricing for Silver $AU45.80

Spot pricing for Platinum $AU1479

As US elections start gaining more and more attention in the coming months, many economists have started contemplating a Trump presidency and what that would mean for the economy. With Trumps proposals on trade and immigration set to bring inflation discussions back to the fore – this could be a devastating blow following the efforts of the FED to bring inflation under control in the past years.

Currently Trump is leading Biden in polls after their televised debate 2 weeks ago.

And things are looking grim for mortgage holders in Australia. Aussie economists have picked a 1 in 3 chance that the RBA is likely to increase rates in the coming August period to stifle inflation concerns yet again. Data from a Finder Survey found that 1 in 5 mortgage holders have moved their repayments to interest only in an effort to maintain affordability in their households. Any further increases to mortgage repayments are going to wreak absolute havoc on low to middle class households.

Gold is again sitting tight at US$2366 right within its trading band since April, with Silver following a similar pattern.

Enjoy today’s charts.

Gold daily chart, with 200MDA