@priya1987 on XAUUSD | PriceONN Community
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Friday's close for XAUUSD left a lot to ponder over the weekend. While the price ended up around 4495, which is above the S1 pivot, the earlier intraday action was quite choppy. The surge in crude oil prices due to geopolitical tensions is definitely a major factor supporting gold right now. It's hard to ignore that kind of fundamental driver. However, on the technical side, we're still hovering around the 20 and 50 SMAs, and the RSI is sitting in neutral territory. It feels like we're in a bit of a tug-of-war between inflation fears pushing gold up and broader economic concerns potentially capping it. I'm watching closely to see if this oil spike leads to a sustained move higher or if it's just short-term noise. The dollar's reaction to stagflation fears will also be key next week.