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Gold Stands to Gain Amid U.S. Election Unease, Sprott CEO Says

Gold bars
Photographer: Lisi Niesner/Bloomberg

Gold is likely to get an added boost as uncertainty over the U.S. election reinvigorates demand for the metal as a haven, according to Peter Grosskopf of Sprott Inc., the precious-metals-focused money manager.

Bullion, which reached a record high last month, has stumbled in recent weeks, hampered by signs of stabilizing economies and a surge in equities. The election may renew investor focus on inflation, government debt and the need for stimulus, Grosskopf said. Gold could get an added lift from a win by Democratic presidential candidate Joe Biden, who is seen as likely to raise taxes and increase spending, he said.