Gold not finding supportBulls tried to take gold higher but were unable to sustain the momentum and it closed below its major support which is now acting as resitance. DXY is providing further headwinds with it closing above a major resistance at 93.83 which is generally bearish for gold. However the market as such does not have 100% bearish sentiment as due to US elections and hopes of a stimulus traders are sitting at the sidelines. Having said that the chances of a stimulus deal being reached during the current week are slim as due to mail in ballots the counting can drag on to the end of the week and without a clear result a deal is difficult.
