Fresh from his stay in hospital after being diagnosed with COVID-19, President Trump has set the cat amongst the pigeons by cancelling scheduled stimulus talks with his Democratic rivals. Trump says he will not negotiate “until after the election”, declaring a major bill will only be passed after he wins a second term in office.

His announcement saw gold prices tumble 2% – coming after a steady increase which earlier in the day saw prices markedly over the important £1,455.40 ($1,900)  mark, this decline creates a golden window of opportunity to buy now. You must act now however as the precious metal is already showing signs of creeping back up, from a Tuesday low of £1,441.40 ($1,881.50) to £1,447.53 ($1,890) in early morning trading today.

With stocks especially hard hit by the news that no new stimulus package will be forthcoming before November, we can expect to see gold rapidly gaining ground as a safe haven. The Managing Director of the IMF, Kristalina Georgieva said that ending fiscal support too soon could send the global economy into a tailspin. Citing IMF expectations for a partial but uneven recovery by next June, she said, “This calamity is far from over. All countries are now facing what I would call ‘the long ascent’ – a difficult climb that will be long, uneven, and uncertain.  And prone to setbacks…We are very clear in the message we are communicating to not withdraw support prematurely. If we do so, then we risk massive bankruptcies and massive unemployment.”

Move quickly, buy now

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