Gold and the Obama Administration

On September 13 Gold hit a new high of $1,274.00 per ounce.  Gold has often been the safe haven for investors fearful of future financial downturns and political upheavals.  As such it also serves as a barometer of the success or failure of economic policy being pursued by the major western economies, particularly the United States.A cursory examination of the price of Gold the day after a Presidential election in the United States versus the price of Gold 22 months thereafter as well as the end of a President's first term shows more than any government issued statistic or media-driven poll the perceived success or failure of a Presidency.In reviewing that period in the administrations of Jimmy Carter, Ronald Reagan, George W. Bush and Barack Obama the following is revealed: In 1976 Jimmy Carter won the election versus Gerald Ford.  On November 3, 1976 Gold was priced at $122.50 per ounce.  By September 15, 1978 the price had risen to $212.15 per ounce (an increase...(Read Full Post)