Gold Strategy - Waiting for Election Results, US Stocks Fluctuate Narrowly

Fundamental Analysis
After Trump's election victory, the market has shifted focus to his policies. Investors are concerned that Trump’s tariff policies may drive up inflation, limiting the Fed's room to cut rates, which could strengthen U.S. Treasury yields and put pressure on precious metals. In the short term, post-election, "Trump trades" may continue to influence market trends, suggesting a potential short position on gold.

Technical Analysis
On the 30-minute chart, lower highs and lows indicate a bearish trend. The latest decline shows resistance at the 61.8% retracement level, making this a potential short entry. If prices break above recent highs, the trend may shift, and short positions should have stop-losses in place. Take profit at previous lows, as the downtrend halted here previously.

Trade Recommendation 
Short gold above 2664.88, with a stop-loss at 2678.14 and a target at 2643.42. (Please calculate spread independently)

Support level: 2643.42 Resistance level: 2678.14

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