@nycChristopher on XAGUSD | PriceONN Community
N
Thinking more about the US-Iran peace talk headlines – it's definitely a double-edged sword for precious metals. On one hand, less geopolitical tension should theoretically reduce safe-haven demand for gold and silver. However, the weakening dollar mentioned in some reports could still provide underlying support. It's hard to get a clear directional bias when you have conflicting fundamental drivers. For XAGUSD, I'm looking for price action confirmation around these key pivot levels like P at 78.48 and R1 at 78.62. If we can't hold above the pivot, the bearish argument gains traction. I'm personally keeping my powder dry until we get more clarity, maybe waiting for the London open.