What Does Gold Do When Trump Tweets?
Thursday, 9 November 2017 22:04 WIB | GOLD CORNER |Gold OutlookGold Corner

When President Donald Trump tweets, markets listen.

We saw this when he went on Twitter to slam Nordstrom for cutting his daughter's fashion line. The department store's stock dropped as much as 1% within a minute of his tweet.

But when it comes to gold, the metal is a little more resilient to Trump's Twitter rants.

Looking at a daily chart since Trump was elected president, gold saw its biggest spike the day the election results came out. The unprecedented win took markets by storm and investors flocked into the safe-haven metal, pushing it up nearly 5% even if the gains were short-lived.

It wasn't until May that the metal saw another notable spike, pushing up nearly 2% as geopolitical uncertainty rose following news that Trump had shared sensitive information with Russia. The metal traded around $1,258.70 an ounce at the time.

And who can forget heightened tensions with North Korea, which saw gold rally some 1.6% in early April.

On the flip side, gold has also seen significant dips during Trump™s presidency, most notably in November, shortly after his win.

The 5% election gains were brief, with prices dropping about $40 an ounce on November 11. Investors were quick to jump back into equities as Trump promoted his plans to œmake America Great Again.

However, when you look closely, it seems President Trump™s approval “ or disapproval “ ratings might have a stronger correlation with gold prices than his tweets do. 

Gold™s biggest spikes “ from opening prices to intraday high “ typically correlated with stronger disapproval ratings for President Trump. For instance, on May 17, gold rallied nearly $25 from its open to its high. According to fivethirtyeight.com, Trump™s disapproval rating stood at nearly 55% that day.

Meanwhile, on gold™s biggest down days, which were shortly after Election Day, the President™s approval rating stood at 42%, according to Gallup.

Source: Kitco News

RELATED NEWS

Gold's Tops Hold, Next stop $1300
Tuesday, 20 February 2018 05:26 WIB

Pasar ekuitas tutup hari ini; Namun, pasar berjangka tetap dibuka. Ekuitas berjangka bergerak lebih tinggi, yang mana akan membuat indeks berjangka menghijau untuk hari ketujuh berturut-turut. Baru tiga minggu yang lalu, ekuitas tampak seperti akan anjlok. Sekarang mereka terlihat seperti mereka mun...

Investors Don't Fear 3% Bond Yields
Tuesday, 13 February 2018 05:10 WIB

Pasar emas tidak perlu takut pada kenaikan yield obligasi, seiring ekspektasi inflasi membuat suku bunga riil tetap turun, menurut satu perusahaan investasi. Dalam sebuah laporan, Senin, Maxwell Gold, direktur strategi investasi di ETF Securities mengatakan bahwa harga emas masih memiliki ruang unt...

Gold Will Retain Gains Through H1 2018 - BNP Paribas
Monday, 5 February 2018 14:58 WIB

Emas akan mempertahankan kenaikan Januari-nya sampai paruh pertama 2018, menurut BNP Paribas, namun akan menghadapi tekanan ke bawah pada paruh kedua tahun ini seiring Federal Reserve mulai melanjutkan normalisasi kebijakan moneter mereka. "Meningkatnya ekspektasi inflasi dan dolar yang lemah, sela...

Gold Market Could See Quiet Start This Week Ahead of FOMC And Employment Data
Monday, 29 January 2018 11:47 WIB

Meskipun harga emas berada menjauh level tertinggi 1,5 tahun yang terlihat di tengah pekan lalu, pasar masih berpegang pada kenaikan tersebut dan banyak analis mengatakan bahwa mereka masih melihat potensi kenaikan harga, meskipun ada periode konsolidasi yang sederhana. Pasar emas mengakhiri pekan ...

Gold Fails To Break Out; Let The Selling Begin
Tuesday, 23 January 2018 05:40 WIB

Sebagai bull jangka panjang emas dan perak, selalu sulit untuk menulis secara negatif tentang logam tersebut, tapi sebagai teknisi pasar, saya juga harus membaca grafik dan mengikuti jejak kaki yang mereka tinggalkan. Logam-logam tersebut telah merasakan gerakan besar ke level yang lebih tinggi dan ...

POPULAR NEWS
Tuesday, 20 February 2018 05:26
Gold's Tops Hold, Next stop $1300
Tuesday, 20 February 2018 08:38
RBA minutes: wage growth remained subdued
Wednesday, 21 February 2018 04:43
Trump Again Blames Obama for Russia Meddling
Tuesday, 20 February 2018 07:31
Tokyo stocks open lower as exporters fall
Thursday, 22 February 2018 07:38
Asia Stocks Slip With U.S. Futures, Dollar Gains
ANOTHER NEWS
Sterling bounces off one-week lows as dollar skids
Friday, 23 February 2018 00:31 WIB Sterling rose from a one-week low on Thursday as the dollar slumped towards a session low, although renewed concerns over the state of play in Brexit negotiations checked the British currency's gains. Despite sterling's weakness this week, it is...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.