LOS ANGELES, Sept. 28, 2016 /PRNewswire/ -- American Bullion announced that they agree with the recent Citigroup forecast that a Trump win in the presidential elections may cause gold to rise in price to $1,450 by Q1 2017.
The Citigroup forecast stated that Republican candidate Donald Trump has grown his chance of winning the presidential election from a 35% to a 40% chance. A similar poll created by Bloomberg Politics showed that 43% of respondents claimed they would vote for Trump while 41% claimed they would vote for Clinton.
While Citigroup believes Clinton would continue with policies, leaving the U.S. growth and expectations unchanged, they cannot confidently say the same for Trump, who Citigroup calls a "wild card." Factor in the lingering anxieties and uncertainties surrounding Brexit and what results is a possible halt in global growth for the remainder of 2017.
The anxiety over the US economy stems from the uncertainty on how Trump will affect the U.S. economy along with the increased likelihood that the Fed Reserve may hike interest rates by year-end. A Trump presidency may cause volatility in bullion and foreign-exchange markets to increase, which in turn should lead to higher volumes in other precious metals.
Under Citigroup's forecast, the price of gold is predicted to rise to $1,450 by Q1 2017 if Trump wins.
"We agree with the Citigroup forecast and believe the upcoming elections and increasing interest rate could create turmoil in the market," stated Orkan Ozkan, CEO of American Bullion. "Regardless of who is elected president, when markets crash and people panic, opportunities are created for savvy investors. American Bullion was created to help investors take advantage of these opportunities."
In 2016, Bullion has rallied 26 percent, rebounding from three years of losses. Gold closed today (Sep 27) at $1,337.23 an ounce.
American Bullion, Inc. specializes in converting existing IRAs or former 401(k)s to a self-directed IRA capable of holding physical gold known as a Gold IRA. Call 1-800-GOLD-IRA(465-3472) or visit www.americanbullion.com for more information.
American Bullion News: http://www.AmericanBullionNews.com
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2763992
Embedded Video Available:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/american-bullion-predicts-gold-price-increase-with-trump-win-300335380.html
SOURCE American Bullion, Inc.