@RituVarma48 on XAUUSD | PriceONN Community
Well, Friday's close for gold was a bit of a mixed bag, wasn't it? We dipped a bit towards the end of the session, but the 50 SMA held nicely, which is always a good sign. Still feels like it's consolidating, waiting for Monday's open to give us some direction. Curious to see if there's any gap risk after this weekend.
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Thinking about that Iran situation, it really is the main driver right now. If those diplomatic talks actually go somewhere, the dollar could strengthen, which would be bad for gold. But then again, if tensions flare up again, that's pure gold fuel. I'm just keeping an eye on the DXY; its weakness lately has been a solid tailwind for us longs. For now, I'm leaning slightly bullish for next week, hoping that 4740-4750 zone acts as solid support if we get any pullback. Need to set my watchlist for Monday carefully.