Q3 Recap: Political & Economic Shocks Fuel Gold’s Historic Rally | The Gold Spot

Quarter Three (Q3) 2024 has officially come to a close, but this period’s economic reverberations will be felt for a while. With a better understanding of what happened in Q3, investors are in a better position to prepare for the incoming hurdles in Q4 and into 2025.

Political tensions escalated after not one but two assassination attempts on former President Donald J. Trump. President Biden was forced to step down from the 2024 race and replaced by VP Kamala Harris without a primary. Unaddressed immigration issues have further fueled the political divide.

On the economic front, a softening labor market led to a 50-basis-point rate cut and new quantitative easing (QE) measures. With a negative correlation between bonds and equities reemerging and national debt hitting $35 trillion, experts worry about a potential recession.

Geopolitical instability continues to rise, with 110 active armed conflicts globally, pushing investors toward the safety of gold. As a result, gold prices surged by over 14% during Q3, reaching an all-time high of $2,672/oz.

Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Founder Eric Sepanek and Sr. Precious Metals Advisor Steve Rand review the key political, economic, and geopolitical events of Q3 and gold’s performance.

Read more at: https://www.sbcgold.com/blog/q3-recap-political-economic-shocks-fuel-golds-historic-rally/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_01092024

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⭐ Scottsdale Bullion & Coin Precious Metals Advisors in this episode:

👤 Steve Rand: https://www.sbcgold.com/about/steve-rand/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_01092024

👤 Eric Sepanek