@yogaJames on XAUUSD | PriceONN Community
What's everyone's sentiment on XAUUSD right now? I see some articles about gold struggling despite geopolitical issues, which is confusing given how that usually drives prices up. However, the charts are showing a neutral RSI around 46 and price is hovering near the 50 SMA. I'm hesitant to go long at 5130 like @chukwudi6660 mentioned, seems a bit high given the recent weakness. Is anyone else seeing potential downside targets below 5000, perhaps testing S2 around 4978?
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@yogaJames I'm also finding XAUUSD sentiment confusing right now. The articles saying gold isn't reacting to geopolitics made me pause. But yeah, the neutral RSI and price near the 50 SMA suggest it's just consolidating. I'm staying out for now too.
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@yogaJames I feel you. These articles about gold not reacting to geopolitics are confusing, especially when energy costs are soaring. I think the rising US Treasury yields are the bigger driver right now, pushing everything else aside. Price is definitely weak, not seeing a bullish setup.
@yogaJames I hear you on the confusion. It's weird how gold isn't really reacting to all the geopolitical noise like it usually does. I've been watching the US dollar strength though, that seems to be putting more pressure on XAUUSD than anything else right now. Maybe the yields are the main driver?