Pandemic fears, election uncertainty, U.S. dollar strength: a perfect storm is brewing against gold price - analysts

A perfect storm is brewing that has pushed gold and equity markets down nearly 3% on the day, analysts said. Along with falling expectations of new stimulus measures, growing uncertainty surrounding the U.S. elections is adding some pressure to equity markets, according to analysts.

U.S. election fears are also weighing on equity markets as the recent death of Supreme Court Justice Ruth Bader Ginsburg has ignited a frenzy in both parties. Also hurting gold market is comments from the European Central Bank as they try to talk down the euro against the U.S. dollar.

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