When the XAU pulls back below 66 to 67, Hesler looks for a decent move up.

FORBES: Gold Buggin'

The silver lining is that the year following the election, the XAU has historically bounced back.

FORBES: Gold Miners Rally Higher, Now The Metal's Turn?

From 1984 through 2008, the performance of the Philadelphia Stock Exchange Gold and Silver Index (XAU) has historically been weak during the year of a presidential election.

FORBES: Gold Miners Rally Higher, Now The Metal's Turn?

One area with potential is gold equities, which have lagged bullion significantly this year, pushing the gold-to-XAU ratio to the second-lowest level in nearly 30 years in June.

FORBES: Gold Stocks Look Like Diamonds In The Rough With Metal Making New Highs, Stocks Slumping