This bounce comes right after a violent reset in positioning, leading to a steep pullback of more than $500.00 from last week’s highs of around $4,400/oz, which helped pull dip buyers back into the market once the risk headlines returned.
What this means for forex traders trading XAUUSD: When geopolitics drives gold, the market often shifts from “macro slow” to “headline fast.” Practically, that can mean cleaner momentum but messier execution, especially around liquid hours and breaking news. Keep an eye on:
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USD direction and real yields: A stronger dollar can cap gold rallies, while falling yields often support them.
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Energy and risk proxies: Any escalation around key shipping lanes can spill into oil, inflation expectations, and risk sentiment.
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The $5,000 level itself: Big round numbers tend to attract both breakout traders and profit takers, so whipsaws are common.
It was not just gold moving:
Silver and platinum also strengthened alongside gold, reinforcing that the rebound was broader across precious metals. Spot silver rose about 0.63% to around $87.339 per ounce, showing a steadier climb, while spot platinum outperformed with a sharper 1.7% gain to roughly $2,256.04 per ounce, indicating stronger upside momentum in platinum during the move.
Source: Followme's "Markets" feature
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