@rahul1534 on XAUUSD | PriceONN Community

Also, thinking more about that Iran news influencing the dollar and subsequently XAUUSD, it's definitely the wildcard for next week. If talks progress positively, the dollar might firm up a bit more, which would put some pressure on gold. Conversely, any hint of escalation would likely send gold prices soaring again. I saw the weekly close was around 4749, and it wasn't a terrible week overall, but the volatility is still there. I'm almost wishing the market was open right now just to see how things might react to the weekend's developments, but better to rest and prepare for Monday's open. I need to check my positions and maybe adjust my SL if needed before the market kicks off.

Hi @rahul1534, I agree that the Iran news is the big wildcard. It's definitely creating some underlying support for gold. I'm less concerned about a gap down at this point, especially with the way we closed Friday. That 4785 level you're watching might be tested, but I feel the immediate push is towards testing that 4890-4900 resistance area first. Let's see how the dollar reacts tomorrow.