There’s only one story today and it concerns a massive collective sigh of relief from investors and traders in equities and the U.S. dollar.

In spite of pressure from uncertainty in the U.S. elections coming up on Tuesday and plummeting crude oil prices, all three major stock indexes saw only small losses today.

Gold was up $2.40 per ounce, all of it coming on a sagging dollar.

Gold saw a nice little rise today, about half of which came on the back of dollar weakness. The question is: where is the dollar weakness coming from? Certainly, a bit is coming from the tightening of the U.S. election.