@slee940 on XAUUSD | PriceONN Community

Yeah, that oil surge with the Iran stuff is a big factor. If that Strait of Hormuz stays shut, oil prices could go nuts and that usually pulls gold up with it, safe haven and all. But then you have the Fed possibly hinting at more rate hikes, which usually hurts gold and supports the dollar. It's like two big forces pulling in opposite directions. I'm hoping for a bit of a pullback on Monday morning, maybe a test of that 4700 area again, just to see if it holds. If it breaks that, could be trouble. But if it finds support there and starts climbing again with the geopolitical fears, could be a good long setup. Just gotta be patient and see how it opens.

Hi @slee940, I get what you mean about waiting for Monday. That Iran news is pretty wild, and I'm a bit worried about what kind of gap we might see when the market opens. I'm still holding a long position from earlier in the week and I'm getting a bit nervous about sleeping on it with all this geopolitical uncertainty. If oil prices really spike because of the Strait of Hormuz, that could definitely pull gold up as a safe haven. But then again, if the US economy is accelerating like they say, that might make the Fed less inclined to cut rates, which could be bad for gold. It's a real tug-of-war right now.