No reprieve for gold even as the dollar slumps

Gold D1 24-11

With the dollar slumping across the board, gold is failing to catch a break as the downside momentum from yesterday extends into trading today.

Price is now down by a little over 1% to session lows around $1,815 and sellers are very much looking poised for a test of the $1,800 level and the 200-day MA (blue line).

The question now is, will that see dip buyers step in at the key technical region or is there more downside still to follow for gold moving forward?