Upside Potential Possible

Gold prices could rally if there is a correction in the U.S. stock market, as U.S. equities are near record highs. Additionally, they point out a Swiss gold referendum on Nov. 30, which in part calls for Switzerland to hold at least 20% of its assets in gold, could support prices. “If passed, and currently very few are talking about it outside of Switzerland, the SNB (Swiss National Bank) would need to buy 1,500 (metric tons) over a three-year period. (Fifteen hundred tons) equates to half of the world's annual production,” they said.