It is a well-known fact that many factors influence the value of assets and markets. Even the health of President Trump has now become a factor. One has to wonder what all of this means for stocks, cryptocurrencies, and precious metals.
The Health of President Trump and Financial Markets
Depending on how one wants to look at it, president Trump was either bound to contract COVID-19 or avoid it altogether. Now that he has tested positive, a lot of questions need to be answered in the process. The ongoing conflict of information from Trump’s doctors and unbiased health experts is not helping matters much. it is incredibly difficult to determine what the current health status of President Trump is today, or will evolve in the future.
To many people, it may seem strange to have this impact financial markets. In reality, everything and anything can disrupt the brittle nature of these markets with ease. Primarily stock markets tend to swing wildly whenever political news is brought out. This was no different following the health issues of President Trump. As stocks swing wildly, everything else is often bound to follow suit rather quickly.
Even the gold price has undergone some fluctuations, When news broke of Trump contracting COVID-19, bullion appeared to rally a bit. Now that President Trump has left the hospital, the market is being subdued again. Ongoing health updates will continue to influence all markets for the foreseeable future.
As questions remain regarding the President’s condition, it is difficult to determine what will happen next. Some sources claim he is perfectly fine. Other doctors confirm how he has required additional oxygen due to his levels being off. Combined with rumors regarding a steroid treatment, things are bound to get interesting.
Safe Havens and Politics
Under normal circumstances, safe haven assets will note an increase in demand during political turmoil. As such, the upcoming US elections will prove crucial to keep an eye on. Those elections will directly be impacted by the health of President Trump at the time.
According to some data, he may be even gaining more support now that he has contracted the virus. Odd, considering how the President dismissed this virus as a fad not that long ago. This week, he claims how he now “understands” COVID-19, which is no longer being referred to as the Chinese Flu.
Given the importance and influence of this data, the next few months will get very interesting. Gold remains above the $1,850 support with ease, but struggles to surpass $1,900 in a convincing manner. If the health of President Trump deteriorates, anything can happen in the near future. Should he make a full recovery, there is no telling what will happen in the months ahead.