In an interview with CNBC's Squawk Box Asia, CIO of James Rasteh, CIO of Coast Capital, said that no matter who wins the elections, gold is set to gain because it is likely that the US will adopt a sizeable fiscal stimulus program, irrespective of whether Biden or Trump wins the presidency.
Rasteh further explained that even as more dollars will be printed, gold will continue to be produced less than before, causing prices to rise.
"The fiscal and monetary policies would be almost identical under either leadership. I think that the differences that are being delineated are really more imaginative than real," CNBC quoted Rasteh saying.
Rasteh is the founding member and CIO of Coast Capital LLC, an American investment advisory and management firm.
The fiscal stimulus for any country are policies such as government spending or tax reduction that are aimed at boosting economic activity and lead to a wider deficit, causing investors to move to safe-haven assets like gold. This will in turn push rates of the metal higher internationally, and following global cues, gold prices in India will also climb.