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Gold's 2000-ish level - tricky business
Been watching XAUUSD pretty closely lately, and it seems like that psychological $2000 level is proving to be a real head-scratcher. Every time it pokes its head above, it just gets batted back down, almost like a market-sized game of whack-a-mole. My read is we need a decisive close significantly above that to consider a real leg up, otherwise, this resistance just keeps strengthening, and a retest of say, $1970 feels more likely than not. Of course, a sudden geopolitical shock or a hawkish pivot from the Fed could blow that all to bits, but for now, it's a grind.
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