Attention in the capital markets is strictly focused on whether investors can count on more stimulus measures before the forthcoming U.S. presidential election. Gold is as steady as she goes pre-election, but with rising coronavirus cases, can it tick higher before voters head to the polls?
Per a Kitco News article , “Investor demand is holding relatively steady, in line with the recent price action, according to the latest trade data from the Commodity Futures Trading Commission (CFTC). Hedge funds remain active investors in the gold market; however, analysts have noted that nobody is making significant bullish or bearish bets ahead of the Nov. 3 U.S. General Election.”
“With a Biden win increasingly being priced in, some may have decided to step aside until after November 3. Not least considering the memory of 2016 when the Trump win helped trigger a 15% correction in the weeks following the election,” said Ole […]
October 28, 2020 (updated October 28, 2020) Published by StockMan