Now that we’ve got the presidential race narrowed to three candidates, let’s examine which one might be better for gold investors.

2016 seems to be the year of the “alternative candidate,” and so hedge fund manager Dan Tapiero looked at how each candidate might impact the “alternative investment” of gold.

Each of them is likely to have an indirect impact on this metal, if not a direct one…

Hillary Clinton

Wall Street seems to prefer Hillary Clinton. Wall Street only buys gold when it’s rising, but that’s exactly what’s been happening.

Hillary is arguably the most “establishment” of the remaining candidates, so she’d probably continue the status quo of Obama. If so, gold is up 45% since he first took the oath on January 20, 2009.

Donald Trump

Donald Trump sees gold as a form of currency; he actually allowed a tenant to pay for an apartment in gold bullion. He’s also the alternative candidate and gold is the alternative currency.

If he really is able to “make America great again,” gold would likely be subdued as investors would pour into stocks. On the other hand, if his policies lead to turmoil, gold would jump higher in response.

Bernie Sanders

Almost any way you measure it, Bernie Sanders would be unfriendly to the business community. Taxes would likely rise dramatically.

Investors would probably seek alternative investments if Sanders is elected, and gold would be a natural refuge.

By the way, Ted Cruz would’ve been the strongest candidate for gold. He’s already sponsored legislation to make gold legal tender in the country. And given his strong views on the national debt, he might’ve even tried to institute some kind of gold standard, something that would require a much higher price.

Gold fits the mood of the day

Gold price swings, of course, aren’t solely affected by the president, but their actions can certainly influence it one way or another. Regardless of who gets elected, however, many people are looking for alternatives to the status quo.

And that’s evident in both their presidential candidate and investments. Good examples are the popularity of Trump, gold’s market-leading rise this year, and of course the hype around BitCoin.

And as Dan points out, what about the fact that gold is taxed at the collectibles rate? It makes sense to make gold tax free. After all, it’s less of an investment and more of an alternative form of money. The UK, for example, imposes no taxes of any kind on gold. A president that favors gold could spark this type of change in the US, too.

Learn why gold is heading to $3,000

Watch this quick 4-minute video on why this highly successful hedge fund manager—one who’s worked with Steve Cohen, Stan Druckenmiller, and Michael Steinhardt—says gold is the perfect investment for the small investor and why it’s likely headed to $3,000.