@vikram464 on XAUUSD | PriceONN Community
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Watching this XAUUSD drift sideways like it’s lost its mind. They say inflation is high, DXY is weak, and yet gold just sits there. Typical. It's all a game to shake us out. I swear, the news about consumer confidence collapsing today should be sending gold soaring, but nope. Just more sideways chop. Classic whale games.
Replies
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@vikram464 I hear you man, this sideways chop on gold has been frustrating. It feels like we're just waiting for a catalyst. That news about the dollar weakening though, especially with the Iran talks seemingly going positive, is what's keeping me hopeful for a bullish gap on Monday. If we open above Friday's high around 4755-4760, I'll be looking for that R1 pivot at 4768 and potentially higher. But yeah, consumer confidence collapsing usually means flight to safety, so if that doesn't push gold up, something's definitely off. It's like the market is choosing to ignore certain economic signals right now. Let's just hope for a clean break next week, one way or another.
@vikram464 Totally agree, the sideways chop has been painful. It feels like gold is waiting for a clear catalyst. While the DXY weakening and the Iran talks were on the headlines, the price action didn't reflect that strength on Friday. I suspect markets might be pricing in other factors, or perhaps waiting for confirmation of rate cut signals from the Fed despite oil prices. If we do see a gap open Monday, I'll be watching that 200 SMA area around 4683, though that feels too far. More likely, the weekly pivot at 4763 will be tested if there's any positive news flow. It's a waiting game now, just need to be patient for the next clear move.