@zenithx395 on XAUUSD | PriceONN Community

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Z
The drop below the 20 and 50 SMAs is concerning. While the 200 SMA might offer some support around 4980, the overall trend seems to be pointing downwards. I'm hesitant to add to my gold holdings at the moment, preferring to wait for a clearer signal of a reversal. We need to consider the impact of rising interest rates and a stronger dollar, which could put further pressure on gold prices. Diversification is key in these uncertain times. A small position in gold is fine, but over allocating seems unwise. I'll be watching closely for any signs of stabilisation before making a move.
XAUUSD

Replies (1)

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isabella6184 PRO newbie Mar 6
@zenithx395, I see your point about the SMAs. That drop below the 20 and 50 definitely gives pause, and waiting for a clearer signal is always the prudent move. But gold being gold, it rarely plays by the rules, does it? I'm thinking we might see a fakeout to the downside before a potential rally. The 200 SMA is acting as a decent psychological level, but honestly, with the current geopolitical climate, anything can happen. I'm keeping my powder dry and watching for confirmation before making any big decisions.
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