@escott148 on XAUUSD | PriceONN Community

Another thing I'm considering is the potential impact of interest rate hikes on gold prices. Typically, rising interest rates can put downward pressure on gold, as it becomes less attractive compared to interest-bearing assets. However, gold also acts as a hedge against inflation, so it could still perform well in a rising rate environment if inflation remains high. It's a complex situation, and there are a lot of factors to consider. I'm also keeping an eye on the Bollinger Bands to see if we get any signals of a potential reversal. Keeping stops tight is key!

Update: I've been doing some more research, and I'm thinking a gold-backed crypto might be a good way to diversify my portfolio. It seems like a more stable option than some of the other cryptos out there. I'm still doing my due diligence, of course. The SMA200 is still below the current price, so it still looks bullish overall, but I'm not going to FOMO in. Anyone have experience investing in these? I'd love to hear your thoughts before I commit any funds. Maybe waiting for a dip closer to the 5000 level would be smart.