Gold (XAU) Every day Forecast: Sturdy Greenback and Election Uncertainty Weigh on Gold…

Gold (XAU/USD) just lately took a pointy dive, buying and selling at $2,711 after a 1% drop, pushed by a powerful bearish transfer that sliced by way of key ranges.

Presently, speedy help is at $2,701, with the subsequent help ranges seen at $2,692 and $2,684 if the downward momentum persists. Quick resistance now lies round $2,725, with additional limitations at $2,743 and $2,752.

The 50-day EMA sits at $2,740, whereas the 200-day EMA at $2,742—each above the present worth—reinforce the bearish sentiment.

The substantial sell-off, coupled with a bearish engulfing candle, alerts potential for additional declines. For now, so long as gold stays underneath $2,725, sellers seem in management, with restricted indicators of reversal.