Gold & Silver trading sideways as Traders waiting Weekly Unemployment Claims & FOMC Decision.

Gold prices are trading with sideways bias($2663) on Thursday after profit booking from traders as Trump came victorious.
Silver is also not giving moves & currently trading at $3.15 down 0.08%. Gold price (XAU/USD) faced challenges as the dollar-denominated precious metals struggled due to a stronger US Dollar (USD).Gold prices are under pressure as safe-haven flows decline amid market optimism and “Trump trades.” This shift is driven by the clarity of a presidential victory, while the market had previously been anticipating a contested outcome.US Federal Reserve’s (Fed) policy decision will be eyed on Thursday. Markets expect a modest 25 basis point rate cut this week. This could provide support for Gold as lower interest rates reduce the opportunity cost of holding non-interest-bearing assets.

The CME FedWatch Tool shows a 98.1% probability of a quarter-point rate cut by the Fed in November.

Gold Structure: Strong Bearish Candle on Daily, Breakdown from H&S on 4hr, Small RSI Divergence on 1hr.

Intraday Strategy/ Intraday Trend: Buy on Support,Sell on Rise/ Bearish

Weekly Trend: Neutral to Bearish

Major Resistance: 2664,2671, 2678

Major Support: 2653,2643,2626