Salient to Investors:

Gold traders are the most bullish in 10 weeks. Holdings in gold-backed exchange-traded products gained the past three months to a record, the best run since August 2011. Options traders are bullish.

Gold is heading for a 12th straight annual gain, the longest winning streak in at least nine decades.

Bachhraj Bamalwa at All India Gems & Jewellery Trade Federation said Indian demand fell the past several months as record local prices cut demand.

Edel Tully at UBS said an Obama victory would support gold because market uncertainty will be removed,   Ross Norman at Sharps Pixley said an Obama victory may be positive for bullion because investors see greater monetary accommodation and currency debasement from a Democratic administration.

Ross Strachan at Capital Economics sees weakness in the global economy continuing to be a drag on commodity prices as global stimulus mainly is not having very much effect.

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