This is very much expected as mentioned earlier here. The question now is will he be able to form a viable coalition to return back to the helm. Otherwise, fresh elections certainly isn't out of the realm of possibilities at this stage.

Update: A statement from the president's office has confirmed Conte's resignation. Consultations with political parties to resolve the crisis will begin tomorrow.

Further Development

Analyzing the current trading chart of Gold, I found that the sellers are in control today and there is the breakout of the Mini Pitchfork channel, which is good indication for the further downside.

Watch for selling opportunities on the rallies wit the downside targets at the price of $1,835 and $1,814.

Key Levels:

Resistance: $1,867

Support levels: $1,835 and $1,814.