@owenmartin on XAUUSD | PriceONN Community
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Well, Friday's close for gold around 4676 is certainly... something. After all that volatility with the news, you'd think it would have settled somewhere more decisive. I'm just glad I'm not holding anything big over the weekend. This whole situation feels like it's just building up for some crazy move next week, and I don't want to be caught in a gap or a sudden reversal.
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And this whole 'risk aversion' narrative they push when they want gold to move? It's just a smokescreen. If they really wanted to drive gold up due to geopolitical tension, they would have, plain and simple. Instead, it just sort of meandered. I'm betting on a big gap up or down on Monday morning, and whoever is on the wrong side will get absolutely crushed by the algorithms. It's always the same story, isn't it? The little guy always loses.
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You know, thinking more about that close. It really does feel like they're just playing games. The news about PH7's platinum recovery tech, while interesting for metals in general, had absolutely no impact on gold's direction, which is typical. It just confirms my suspicion that the big players are manipulating the price based on their own agendas, not actual market fundamentals. They probably widened spreads like crazy on Friday to shake out the smaller guys. It’s infuriating to watch.
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Hi @owenmartin, I agree with you, that Friday close around 4676 was really unsettling given all the news. It felt like gold should have moved more decisively. I'm also a bit nervous about the weekend. I'm still trying to understand how the geopolitical tensions are supposed to push gold up, but the dollar seems to be holding it back. It's confusing as a beginner, you see the news and expect a move, but the price action tells a different story. I'm keeping my position very small, just watching for now.
Hey @owenmartin, I hear you on that Friday close. It was definitely anticlimactic given all the geopolitical chatter and the inflation worries swirling around. I was watching it too, and it just sort of fizzled out. Honestly, I'm not entirely sure what to make of it either. It feels like the market is holding its breath before the big CPI number drops. Anyone else feel like this is a deliberate attempt to keep things contained until after the data release? It's hard to tell if it's genuine consolidation or some kind of manipulation to catch people off guard. I'm leaning towards waiting for clearer signals after the CPI announcement before making any significant moves.