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Weekly close for gold was interesting, held above that 4700 level despite the Fed's surprise move and the oil spike. Not a massive bullish candle, but definitely better than cracking under pressure. Watching to see if that 200 SMA around 4770 becomes a magnet next week.
Actually, thinking about that Fed announcement and the oil surge... if the Strait of Hormuz is closed, that's a huge inflationary pressure. Usually gold thrives in that kind of chaos. The weekly close might have been a bit of a dead cat bounce, but the underlying fundamentals could push us higher if that geopolitical risk stays elevated.
