Investing.com investing.com 04 Jan, 2021 07:30 am

For Gold Traders, It’s “Georgia On My Mind” As U.S. Senate Control Looms

For Gold Traders, It’s “Georgia On My Mind” As U.S. Senate Control Looms
Commodities Analysis by Investing.com (Barani Krishnan/Investing.com) covering: XAU/USD, S&P 500, SPDR S&P 500, US Dollar Index Futures. Read Investing.com (Barani Krishnan/Investing.com)'s latest article on Investing.com

“Out of 1944 votes cast, 1,646 participants, or 84%, said they saw gold prices over $2,000 an ounce by the end of next year.” “The average price of all the votes cast calls for gold prices to push above $2,300 an ounce.The biggest bloc of voters, 266, or 14%, called for gold prices to trade between $2,500 and $2,600 an ounce.With control of the Senate as well as the House Biden will be able to do more, actually.

If Biden gets control of the Senate, it will clear the path for his presidency, as well as for gold.If both Democrats win, it will draw their party’s Senate representation level with that of the Republicans, allowing Vice-President elect Kamala Harris to break any tie with her vote.

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