Financial experts predicted a surge in gold value if Donald Trump won the 2016 Presidential elections. Fast forward to today, a few weeks after this victory, and the gold prices haven’t seen any gains. In fact, they have gone down sharply ever since the results were made public. Another clear example of why financial experts are often useless, and should not be trusted.
Gold Value Drops Sharply Despite Trump’s Win
During the 2016 US Presidential elections, a lot has been said and done. Investors all over the world were concerned if Trump won, and they started looking for new safe haven assets rather quickly. But as it turns out, most of this speculation related to finance was unjustified, as the repercussions have been kept to a bare minimum. In fact, most of the predictions made by financial experts were completely wrong.
In times of political uncertainty, specific assets tend to thrive compared to others. Precious metals have always been a safe bet to hedge against future volatility in the past. But that situation has come to change, as investments made in gold pre-election have not yielded significant gains. In fact, most investors barely got their initial investment back when everything was said and done.
To be more precise, the value of gold is now at its lowest point since February of 2016. Ever since Trump won, the value of bullion dropped by 10%, which is very different from what financial experts predicted. These so-called experts should never be trusted, as their calls only have a 50% of being right. Always do some research yourself, and make a calculated decision based on the facts provided to you.
Denying the correlation between politics and the financial sector is impossible. Both industries are controlled by nearly the same people, even though one’s finances should have nothing to do with elections, leader,s or other governmental issues. Financial experts are now forced to rethink the economy during this transition, and the upcoming Trump era.
Investors, consumers, and enterprises need to stop relying on advice given by third parties. Anyone telling people what to do has a hidden agenda. If enough people follow this advice,t the experts will do the exact opposite and make a profit from doing so. It is not difficult to make correct financial decisions, but it involves some homework, which most people will shy away from.
Keep in mind these same financial experts dissuaded people from investing in bitcoin throughout the years. Oddly enough, Bitcoin has been the best-performing asset in six of the last seven years. Moreover, those who bought Bitcoin last year would have seen its value double every since.
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.