Goldify Pro
Live Gold Rates & Tools
On this day — October 21, 2020
Wednesday — a normal trading day. FOMC announcements (when scheduled) typically come on Wednesdays at 2 PM ET, often producing intraday gold volatility.
Day 295 of 366 · Q4 2020 · 80.6% through the year
October 2020 gold market: Range-bound into the US election
Range-boundA low-volatility holding pattern before the election.
Gold chopped sideways around $1,900 through October as investors awaited the US presidential election and another round of stimulus that never quite arrived. Low volatility masked an underlying tension between debasement bulls and a recovering dollar.
What drove gold in October 2020
- US election uncertainty
- stalled stimulus talks
- range-bound dollar
- subdued volatility
Key events in October 2020
- Oct 30Gold ends October near $1,880 ahead of the election
What happened next
The quiet broke violently in November when vaccine breakthroughs rotated investors out of safe havens.
For gold buyers
October rewarded patience over conviction; with catalysts pending, neither bulls nor bears could force a breakout.