@wjackson653 on XAUUSD | PriceONN Community
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Seeing gold get hit hard after that Iran news earlier today, down nearly 2%... it's funny because a few days ago it was all about inflation and how gold was the safe haven, pushing it towards 4700. Now it seems like the geopolitical situation is being interpreted differently, maybe less of a direct threat to supply or just other factors are dominating. It's kind of like that time back in 2022 when oil prices were spiking but gold didn't react as much because the Fed was hiking rates aggressively. Right now, the dollar is strong too, which usually puts pressure on gold. It's a constant push and pull between safe-haven demand, inflation hedges, and currency strength. This whole thing with the Middle East is definitely keeping things spicy though, makes you wonder what tomorrow will bring.