Anyone hunting for a ‘Trump trade’ at this late stage has probably missed the US election bus. If you bought gold as a traditional safe-haven asset back in February at £1,600 an ounce, you’d be a smug 33 per cent up by now – though my man in the bullion market tells me the rise is by no means all to do with presidential hopes and fears. There has also been big buying from China possibly linked to moves, with Russia and other unfriendly actors, towards ‘de-dollarisation’ of world trade using a partially gold-backed alternative currency. Which means there could be more upside ahead, my man says, and gold ETFs are still worth a look.
Meanwhile, if you’re a crypto believer, as Donald Trump sometimes claims to be, and you bagged some bitcoin at its January low, you could be an even smugger 67 per cent up.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in