@rahul3026 on XAUUSD | PriceONN Community

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R
This gold price action is so slow right now. It's sitting right around 4760 and feels like it's just stuck. I saw that news about the US labor data being choppy, and also the Eurozone inflation going up. Does any of that really impact XAUUSD this much in the Sydney session? Or is it just quiet liquidity causing this sideways drift?
XAUUSD

Replies (1)

R
rahul3026 PRO newbie Apr 9
Actually, thinking about that news again, the Eurozone inflation rising might make the ECB hold off on rate cuts, which could be good for gold if the dollar weakens. But then the US labor data is so messy, it's hard to predict what the Fed will do. If they keep rates high, that's usually bad for gold. It's confusing, like @ellaclark59 said about the oil volatility. I just can't get a clear direction. Maybe I should just stay out until things are clearer. The price at 4764 isn't telling me much, it's just hanging around the pivot point.
EURUSD 1.16137 -0.10%
GBPUSD 1.35196 -0.03%
USDJPY 156.05200 +0.17%
XAUUSD 4,430.40 -0.95%
XAGUSD 66.14 -1.21%
BTCUSD 79,989 +0.31%
SP500 6,572.87 +0.74%
BRENT 94.20 -0.02%
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