@melissamiller88 on XAUUSD | PriceONN Community
M
I was listening to a podcast this morning and they were talking about that big drop gold took overnight. Apparently, the market is pricing in more aggressive rate hikes from the Fed because of inflation worries. The presenter showed some charts suggesting that even though we've seen a sharp decline, the underlying demand for gold as an inflation hedge is still strong. He mentioned watching for a potential 'dead cat bounce' off the current levels, but if it holds, it could signal a reversal. He also pointed out that the DXY strength is a headwind right now, but if that starts to falter, gold could really take off. I'm trying to put together my own analysis to see if these levels around 4350-4360 are a good spot to start building a long position again, especially with the geopolitical tensions still simmering. It feels like the news is trying to push gold down, but the fundamentals are still there.