@rajeshpatel27 on XAUUSD | PriceONN Community

Market sentiment for XAUUSD is currently risk-on, fueled by recent dollar weakness and geopolitical tensions. However, gold's sensitivity to interest rate hikes remains a significant factor. The upcoming Fed meeting will likely inject volatility into the market. Technically, a sustained break above R2 at 5167.85 could signal further upside potential, targeting the 5200 level. Conversely, failure to hold above the psychological level of 5100 could trigger a correction towards the 50-day SMA at 5045.82. Prudent risk management is paramount in this environment.