Gold recovers after plummeting to $ 1,880 as US election uncertainty grows.

• Gold falls $ 35 from two-week highs and returns to the $ 1900 zone.
• Volatility in the markets, but no clear direction given the start of the vote count in key states.

Gold fell as low as $ 1880, after having been trading at the highest level since October 22 at $ 1915. The price then returned to the $ 1900 area where it is trading, in negative territory for the day, but without a clear direction.

Markets and currency market crossovers are shown without clear direction, but with the dollar trading a modest gain from Tuesday’s close. This is partly weakening gold.

The traders are closely watching the results of the US elections, that for now do not show clear results and the scenario of lack of definition prevails. At one point, it looked like the state of Florida was going for Biden, prompting some optimism of a speedy resolution of the election, but ultimately the state looks like it will be left to President Trump.

For now, there is no clear trend on who will win what is weighing on the mood of the markets. Wall Street futures are falling but modestly. There is no shock, no great rally.

Since el point From a technical point of view, gold maintains an upward bias on the daytime chart. A confirmation over $ 1915 would leave them strong to go looking for the next key resistance which is at $ 1930 and a break above would enable more raises. In the opposite direction, the recent low at $ 1880 coincides with significant support. Below, we would expect a test to the October lows at $ 1860, which protects the zone from the September floor at $ 1845/50.