This driver could 'propel' gold price back to its new all-time highs

Gold last traded at $1,894 an ounce. Silver at $24.16 an ounce.

NEWS SUMMARY: Precious metal prices retreated Tuesday on profit-taking and a stronger dollar. U.S. stocks slipped as investors digested the first batch of corporate earnings and as hopes for a stimulus deal before the election dimmed.

Bloomberg Intelligence/Kitco---"There is one driver that could really re-ignite the gold price rally during this turbulent fourth quarter, according to Bloomberg Intelligence senior commodity strategist Mike McGlone....'Gold is likely to remain atop our macro-performance scoreboard in 4Q,' McGlone said. 'The greenback entering a bear market would propel gold, if history is a guide.' The yellow metal is currently in a bull market with strong established above $1,800 an ounce after a sharp rise to a new record high of $2,075 an ounce this summer....Another sign of the current bull market is that gold hasn't wrapped up a quarter since Q1 2019, less than 8% above its 50-week moving average, McGlone pointed out. Bloomberg Intelligence sees gold eventually climbing back up to its new record highs, especially in light of the increasing debt-to-GDP ratio and massive global quantitative easing. 'History dictates that the gold-price rally should accelerate toward $2,000 if the dollar is peaking,' McGlone said....When it comes to silver, McGlone projects a re-take of $30 an ounce."