@charlie8923 on XAUUSD | PriceONN Community
Is gold usually affected by news from the US? I'm still learning how global events move the price. 🤔 I'm trying to figure out if I should be paying more attention to certain announcements. Any advice on what to watch out for? What are some good resources to learn more about this?
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Update: I was reading about the dollar index (DXY) and how it often moves opposite to gold. So, a stronger dollar usually means weaker gold prices, right? I'm also wondering if the 50 SMA around 4940 is a key level to watch. I'm thinking of setting a sell order near that area if it gets there. Does anyone else use the 50 SMA for gold? Or should I be looking at the 200 SMA closer to 4980? Any thoughts? 😅
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@charlie8923 Gold definitely reacts to US news, especially interest rate decisions and inflation data. I'd recommend following economic calendars and focusing on high-impact announcements. Bloomberg and Reuters are good resources.