Spot gold has been hit hard again this afternoon with the price falling to the lowest level seen since April 2010

Spot gold has been hit hard again this afternoon with the price falling to the lowest level seen since April 2010. The move, like that seen in currency markets, is related to the Republican Party taking control of the US Senate following midterm elections that were held overnight. While this was largely priced in before the event it appears that markets have reacted positively with the USD and S&P 500 futures all bid into the European open. It would be good to hear from @AsTannous on his technical view of where the gold price is likely to head to next.