XAUUSD Detailed Analysis 13-November-2024

After Trump won the US presidential election, we saw sharp declines in gold. The dollar index and the rise in the 10-year yield are putting pressure on gold. We expect volatility to increase in the markets with the inflation data to come from the US today. Technically, as long as it remains below 2630 in the short term and 2680 in the broader picture, we expect the outlook to remain weak and the increases to provide a selling opportunity. If 2590 is broken below, we may see pressure towards 2550.