“The Trump assassination attempt will definitely inject some uncertainty into markets.”
A shocking assassination attempt captured on video has left the nation reeling, prompting investors to jump on gold as a safe haven amid political and social crisis.
On Saturday afternoon, during a campaign rally in Pennsylvania, former president Donald Trump was interrupted mid-speech by a bullet that struck his ear. At least two attendees were wounded and another was killed by the 20-year-old gunman, who was armed with an AR-15 rifle.
“That reality is just setting in,” Trump told the Washington Examiner in the wake of his astonishing escape. “I rarely look away from the crowd. Had I not done that in that moment, well, we would not be talking today, would we?”
It’s at least the third time an assassination attempt has been mounted against the former president. Previous attackers–including two suspects with guns and another illegally operating a forklift–were stopped by law enforcement before causing injury to their target.
“The doctor at the hospital said he never saw anything like this, he called it a miracle,” Trump told New York Post reporters, adding that a quick turn to read a chart was what ultimately saved his life. “I’m not supposed to be here, I’m supposed to be dead.”
The assassination attempt cast a harsh spotlight on American political division, with polarizing comments flooding social media just minutes after the events transpired. From a Mississippi congressman’s staffer, taking to Facebook: “I don’t condone violence but please get you some shooting lessons so you don’t miss next time.”
Jacqueline Marsaw, staffer to U.S. House Rep Bennie Thompson (D-Mississippi), was fired shortly after the post was discovered. But the damage was done. Thousands of netizens jumped on the Trump-hating bandwagon, carrying the phrases “they missed” and “how did they miss” to the top of X’s trending topics.
“Unity is the most elusive goal of all, but nothing is more important than that right now–unity,” President Biden told the nation in the hours following the attack. “We don’t yet have any information about the motive of the shooter … please, don’t make assumptions about his motives or his affiliations.”
Thomas Matthew Crooks, a registered Republican who worked as a dietary aide in a nursing home, had reportedly borrowed his father’s gun for what he claimed would be a visit to the shooting range the afternoon of the attack. He perched on a roof, where he was spotted by several attendees, and fired multiple rounds before he was shot and killed by Secret Service Snipers.
With the nation still in shock, the recorded event still streaming on televisions across the country, and the Secret Service’s belated response casting doubt on organizational policy, investors are jumping on the opportunity to hedge against the economic, political, and social uncertainty that inevitably follows the near-death of a major political figure.
“I’d suspect gold could test all-time highs,” Nick Twidale, chief market analyst at ATFX Global Markets, told Bloomberg over the weekend.
Other analysts speculated that the assassination attempt could boost Trump’s chance of winning the presidency, sending additional shockwaves through a national economy that is already struggling to uncover accurate data and make reliable investment predictions.
“The Trump assassination attempt will definitely inject some uncertainty into markets,” said John Gilbert, Senior Portfolio Manager at Integrity Asset Management. “We expect volatility to increase even as the odds of a Trump win seem to be getting higher.”
As investors turn toward the stability of gold, prices for the precious metal are rising, with Tuesday’s gold futures prices just about $10 per share off the previous all-time record of $2,454.
Meanwhile, despite wavering optimism and fears for the future, the nation has mostly rallied around Trump and Biden’s combined calls for political peace. Preparations for the upcoming presidential elections remain underway, as the Republican National Convention kicks off on schedule and Trump announces J.D. Vance as his vice presidential running mate.
Symbolic of the nation’s resilience is a photo of Trump standing over huddled Secret Service agents, blood streaming down his cheek, fist clenched and raised.
“A lot of people say it’s the most iconic photo they’ve ever seen,” Trump told the New York Post. “They’re right and I didn’t die. Usually you have to die to have an iconic picture.”
