@rajeshnair on XAUUSD | PriceONN Community

Current market sentiment suggests a risk-on environment, which typically puts pressure on safe-haven assets like gold. However, geopolitical tensions and inflation concerns could provide underlying support for XAUUSD. The Bollinger Bands indicate increased volatility, so traders should be cautious. A potential trading range exists between the S1 pivot at 4963.9 and the R1 pivot at 4978.93. I'm taking a cautious approach, monitoring price action closely before making any significant moves. Key levels to watch are the 4950 support and 5000 resistance. A break of either level could dictate the short-term direction.