"Gold prices may stabilize somewhat in November following the election," Martin says."This could be short-lived, as neither party has a clear plan to address the growing deficit. In times of economic uncertainty, like the one we're in, gold tends to outperform, though it may be a volatile journey upwards."

Gold was trading at $2,697.51 per troy ounce as of 9 a.m. ET. That’s a +0.48% change since yesterday. The precious metal is up 30.55% since Jan. 1, 2024. Over the last day, its highest trading price was $2,710.44, while its lowest was $2,680.40.

Are you Considering to buy the gold? Current circumstances suggest prices are unlikely to fall further. This is the opportune moment to purchase gold. The drop in gold prices is attributed to the U.S.