Gold manages to eke out a small gain in early trading as uncertainties mount

(USAGOLD – 10/26/2020) – Gold managed to eke out a small gain in early trading as markets generally weighed a surge in coronavirus cases, the lack of progress in relief negotiations, and uncertainty over the upcoming presidential election. It is up $4 at $1908. Silver is down 36¢ at $24.33. Gold Newsletter‘s Brien Lundin sees the choppy market for gold continuing “perhaps until mid-December.” “10-Year Treasury yields have been trending higher since early August,” he says, “which corresponds neatly with gold’s correction. Along with the 10-year yield, we’ve also seen real rates trace out a similar rise. This has been a headwind for gold and, combined with some uncertainty in the upcoming U.S. presidential election and a fiscal stimulus package, has helped to keep the yellow metal at bay.” 

Chart[s] of the Day

Gold, silver and the DJIA – Year to Date

overlay chart showing the performance of gold silver and stocks over past 12 months ending 10-23-2020

Chart courtesy of TradingView.com • • • Click to enlarge.

Gold, silver and the DJIA – One Year

overlay chart showing the performance of gold silver stocks 12 months thru 10-23-2020

Chart courtesy of TradingView.com • • • Click to enlarge.

Chart note:  As of last Friday (10/23/2020), gold is up 27.56% over the past 12 months. Silver – now outperforming gold on a 12-month basis – is up 40.39% and the Dow Jones Industrial Average is up 5.60%.  Year to date, gold is up 24.48%. Silver is up 36.69% and the DJIA is down 1.85%. 

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