The geopolitical situation will contribute to the growth of gold prices

The tension between the US and China is growing. Washington actively criticizes China for adopted by Asian government measures which have not stopped the spread of COVID-19 at the very beginning and for the rest of the world has resulted in the huge number of deaths, economic collapse and falling incomes of tens of millions people.

It doesn’t matter if China is responsible for all of this. Much more significant is the fact that China has already been appointed responsible for the incident, so the White House not only call for fresh sanctions, but also propose to write off 1.2 trillion dollars that the USA owes China.

In fact, these offers are very dangerous. After all, the US dollar is backed by the debts of the US government. And such a policy in relation to these very debts, especially against the background of QE and the subsequent increase in the inflation rate, will lead to discrediting the dollar.

Other countries will simply not deal with the US and its currency, which could easily end up displacing the dollar from its position as a reserve currency. In this case, large investors and their money will look for more peaceful havens in the form of other currencies or gold. Any increase in tension on the political arena leads to the fact that people seek to protect themselves from possible consequences by investing their money in the yellow precious metal.

Thus we can conclude that in addition to pent-up demand, the impact of QE and the severe economic crisis, rising gold prices will be also stimulated by the passions in the political arena.

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