Whoever comes to occupy the White House, gold could yet shine better

The environment remains highly favourable for the yellow metal in the medium to long term

Gold recorded a spectacular performance during the third quarter, soaring to an all-time high of $2,067/oz in early August, driven by escalating fears over the global economic downturn caused by the Covid-19 pandemic and massive stimulus measures introduced by central banks around the globe in an attempt to lessen the impact. Gold averaged $1,909/oz in the third quarter, up by 27% from the previous three months and 30% above the level seen over the same period of last year.

Q3 gold demand at a glance

Gold physical demand recorded another poor performance in the third quarter, tumbling by 30% year-on-year