Obama is good for gold: Target $3,500 by 2013.

So now that Barack Obama is all set for a second term as President of the United States of America, gold is set for another rally. As I write this, gold is quoting at $1,723.2 per ounce (1 troy ounce equals 31.1 gm), up $40, or 2.4 percent, in a day.
And this rally is likely to continue, with some gold bulls talking of a price of $3,500 by 2013-end.

How so?

The analysis is simply an historical look at how much gold prices fluctuated since President Nixon took the U.S. off the gold standard in 1971.

 

Gold has done quite well under Republican presidents, rising over 121% during Republican presidencies over the last 40 years.