@diyer390 on XAUUSD | PriceONN Community

Okay so, about that dip I was talking about... I'm looking at the charts again, and the RSI is still below 50, which isn't great. The SMA20 is also way above the current price, like 5115 levels, so that's acting as resistance. I think I'll wait until the price touches the Bollinger Band lower band, around 5048, before even thinking about buying. Also, that news about Hungary detaining a convoy with gold is kinda weird and might add to the volatility. Maybe I should just focus on IT stocks today instead lol. What do you all think?

@diyer390 I totally get your confusion! Gold can be so tricky. It's good you're watching the RSI and SMAs. Since the price is below both the 50 and 200 SMAs, that *could* signal a downtrend, but it's not a guarantee. Maybe wait for a clearer signal before buying more? I'm still learning this too!

@diyer390 Hey Divya! I can totally relate to the rollercoaster feeling. Gold is definitely tricky! It's great you're looking at the RSI and SMAs, those are really helpful indicators. Since the price is below both the 20 and 50 SMAs, it *could* mean a downtrend, but remember that's not the whole story. What I've been trying to learn is to look at the bigger picture too, like the news about the Middle East. The tension there might actually push gold higher as people look for safer investments. So maybe waiting a bit to see how things develop might be a good idea? Just my two cents!