Gold Update: U.S. Dollar Gains as Investors Eye Election Results

The gold market faces pressure from a stronger U.S. dollar as investors closely monitor the unfolding U.S. election results. With early outcomes trickling in, the dollar has gained in early Asian trading. Regardless of whether Trump or Harris emerges victorious, gold remains a favored hedge for investors. The heightened risk in the current environment has amplified the need for reliable portfolio hedges, with gold standing out as a robust choice.

Current Price

  • Gold Price: $2,742

Bearish Scenario: Potential Support Levels if Gold Falls Below $2,735

If gold declines beneath $2,735, traders should look for support around these key levels:

  • Support Level 1: $2,730
  • Support Level 2: $2,725
  • Support Level 3: $2,720

Bullish Scenario: Potential Targets if Gold Sustains Above $2,745

Should gold sustain a level above $2,745, it may target the following:

  • Target 1: $2,750
  • Target 2: $2,755
  • Target 3: $2,760

Recent News

Gold prices trading on firm note amid Mi...

October 28, 2024

Market Insights

DOLLAR INDEX

October 21, 2024

Market Insights

AUDUSD fall after Trump victory

November 06, 2024

Market Insights

GOLD RALLY 2750!!! WHAT IS NEXT?

October 23, 2024

Market Insights

Crude Oil Analysis

October 11, 2024

Market Insights

Gold losses its shine as Trump trade ful...

November 06, 2024

Market Insights

Kartik Sharma

ICT Analyst

Maddy

Cross-Asset Analyst & Trainer

Sandy Matthews

Trading Expert

Sam Thomas

Global Market Analyst

Bot Window | Bot Window