$XAU 4138 hovered around the same level all day, down just 0.23% over 24h. It looks calm, but there are undercurrents. The leaked Paxton audio exposed a sore spot for Republicans—with the Iran conflict dragging on, $CL is holding at 89.43, and oil and gas prices aren’t coming down. This topic will only heat up further ahead of the midterms.
The logic is straightforward: conflict doesn’t cool → oil prices stay supported → inflation expectations rebound → $XAU is supported by both safe-haven demand and inflation hedging. The current 0.95% pullback in $CL looks more like a shakeout than a trend reversal.
Keep an eye on 4130 for $XAU : if it holds, that’s an entry point; if it breaks, watch 4100. As long as $CL 88.5 holds, the short-term bias remains bullish. My approach is to scale into $XAU on pullbacks without waiting for a deeper dip. The geopolitical premium hasn’t run its course, so don’t rush to get out.
#Gold
The logic is straightforward: conflict doesn’t cool → oil prices stay supported → inflation expectations rebound → $XAU is supported by both safe-haven demand and inflation hedging. The current 0.95% pullback in $CL looks more like a shakeout than a trend reversal.
Keep an eye on 4130 for $XAU : if it holds, that’s an entry point; if it breaks, watch 4100. As long as $CL 88.5 holds, the short-term bias remains bullish. My approach is to scale into $XAU on pullbacks without waiting for a deeper dip. The geopolitical premium hasn’t run its course, so don’t rush to get out.
#Gold