Gold immune to US Prez election, stimulus package key trigger: Bhavik Patel

Rising coronavirus cases, especially in Europe, are keeping gold supported, more so because of the possible economic fallout

After a record run, we're going through a normal and healthy period of consolidation in the monetary metals space, especially in Gold and Silver. We would advice investors to keep position light if traders have short term outlook because of Nov 3 election. We don't believe Gold will react that much as to who will win US presidential election but economic stimulus is key for gold prices to move higher. Gold seems to be trading in narrow range at the moment, responding to small moves in the US dollar which is responding to small moves in the possible political outcome