With his inauguration today, Joe Biden is now officially the 46th President of the United States of America. Biden’s plans are going to be very different as compared to Trumps, which of course means there will be a large impact on the economy. So to answer the question, we are going to break down some of Biden’s Presidency Hold For Gold plans and what impact that may have on Gold.

Throughout his campaign, Biden’s main selling point was that he would put measures in place to fight against the pandemic. A couple notable measures include free reliable testing for Americans as well as making masks mandatory across the nation to reduce the spread. What’s interesting in the plan is that it does not mention anything about lockdowns being put in place, which of course he may add in later. However, if he were to tackle the crisis without resorting to lockdowns then that would be very good for the economy but rather negative for Gold.

Next up, Biden plans are going to be very expensive. Another measure he wants to put in place is building more infrastructures which he plans on doing by increasing the taxes for big corporations. Biden is also planning on spending $1.9 Trillion towards stimulus packages and helping Americans through these tough times. Biden also wants to increase the minimum wage from $7.25 to $15 per hour. This can only mean a more inflated US Dollar which would result in our safe-haven assets (Gold & Silver) to go up in value. 

Finally, Biden also plans on focusing a lot on climate change. He plans on investing a lot of money in building eco-friendly infrastructures to reduce carbon emissions and to develop a system to have zero emissions by 2050.

With all these expenditures, Biden’s presidency hold looks to be more positive for Gold prices. Which would make right now a great time to be investing in Gold, Silver, and other precious metals before their prices inevitably go up. If you are looking to purchase Gold or Silver for the lowest premiums then check out Au Bullion’s selection of precious metals. Au Bullion offers a great range for products that will beat any price on the market!