@AvaBaker on XAUUSD | PriceONN Community
Was just scrolling through some trading YouTube channels and a few analysts were talking about how the Iran situation is creating this underlying bid for gold, even with the dollar strength. They mentioned that despite the recent pullback, it's more of a consolidation before the next leg up if tensions escalate. One guy was showing how the order blocks are still holding from earlier this month. He thinks that even if we dip a bit more towards the 4300s, smart money might be accumulating there for a bigger move. I'm a bit skeptical given how the price stalled last week, but it's worth keeping an eye on. The CPI data could be a catalyst either way.
Replies
@AvaBaker I saw some of that YouTube stuff too. The geopolitical backdrop is definitely providing a floor for gold. While the dollar strength is a factor, the fear premium from the Middle East conflict seems to be outweighing it for now. Friday's close above 4490 suggests buyers are stepping in. I'll be watching to see if we can clear that 4535 resistance early next week.
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@AvaBaker I agree, that geopolitical news is definitely keeping gold supported. It's hard to see a big drop with that going on, even if the dollar tries to push up.