The news of an impending impeachment inquiry of President Donald Trump has been dominating the media ever since it was announced by House Speaker Nancy Pelosi. But as with every major political event, it's rarely ever only political and today we'll have a look at how the gold price and impeachment are tied together. Now, as the likelihood of Trump actually being found guilty by two thirds of the US Senate is very low, the impeachment impact on gold shouldn't be noticeable. It's very possible in fact that all the drama surrounding the process will wither away with no real result, but it may actually support the gold price today. And given that the idea is supported only by 36% of voters, it looks like gold prices and impeachment can be best friends.
Jokes aside, though, currently there are much more significant processes afoot that could have serious impact on the price of gold. For instance, Germany's manufacturing sector hit a 10-year low in September this year, demonstrating a contraction rate that hasn't been witnessed since the global financial crisis. This, along with an alarming and ever-increasing level of global debt, are factors far more likely to shake up markets and gold trading in particular.
For more insight and a detailed gold analysis, watch the whole "Gold Price and Trump Impeachment" video and don't forget to like and share! Subscribe to the Capital.com for more trading news and technical analysis content.
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