Well, to put it briefly, perhaps none.

 

Whether it is Trump or Biden, the President will in any case have to deal with the economic impact of the Covid crisis. And there is only one solution: measures such as tax benefits for and / or support for companies. So whoever wins the election battle in the end, the result will most likely be the same.

 

Usually, support measures result in a higher budget deficit, because of the extra expenditure. As a result, confidence in the economic situation may take a beating, which may lead to large investors seeking refuge in gold investment. And the demand for the precious metal then increases, but the supply (the production) does not increase. With a higher gold price as a result.