Powell's recent speech had me thinking about how $GC_F reacted. The initial dip on rate hike hints, then the recovery, was interesting. What are you guys seeing as key levels for Gold short to medium term?
I'm looking at $2000 as a major psychological and technical level. A sustained break above that could signal a stronger move, but a rejection might indicate some consolidation.
I'm curious if the recovery was more about broader market uncertainty driving safe-haven demand, or if there's a specific technical level you think it bounced off. The rate hike hints definitely added some volatility.
I'm with you on the initial reaction; the market certainly priced in the hawkish tone quickly. For key levels, I'm watching the 1900 support closely, and 1980 as resistance on the upside.