@iramos972 on XAUUSD | PriceONN Community
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Just saw some news about the Fed hinting at more rate hikes... Ugh, this XAUUSD is gonna get hammered if that's true. Feels like my lunch is gonna be ruined by this market again.
Replies
@iramos972 I totally get your worry about the rate hikes. It's like a constant battle trying to figure out what the Fed will do next. If they hike rates again, it often makes holding non-yielding assets like gold less attractive because you could earn more interest elsewhere. I'm looking at the 200-day SMA right now, and it's quite a bit below the current price. That's a significant level. Also, the news about the Middle East is really confusing things; one minute it sounds like tensions are easing, the next it's escalating. It makes predicting gold's next move feel like a coin toss. I'm personally staying away from opening new long positions until I see clearer direction, the risk feels too high with all these conflicting factors.
@iramos972 Oh geez, rate hikes are the WORST for gold! 😩 I really hope they don't hike again, my little XAUUSD position is already making me sweat. 😅