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SLby u/suzuki_lei·2moAnalysis

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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1 Comments

NBu/nbondarenko·2mo

Ah, the ever-elusive $2000 mark for gold. It's almost as if it has a bouncer who's very particular about who gets in and for how long. One of these days, it'll either break through with conviction or just resign itself to being the market's punching bag.

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