The recent pullback in gold isn’t a crash at its core—it’s because real yields on U.S. Treasuries are rising. Last night, oil prices took a dive as the market started betting on U.S.-Iran negotiations. October rate hike probability: 70% → 50%. 4120 held up initially, signaling the start of a rebound. Whether we see a reversal depends on one thing: breaking through 4320. If 4320 can’t be breached, the market will remain weak. Tonight’s PCE and Friday’s Non-Farm Payrolls are the real game-changers. 4120–3950 has been consolidating for over 40 days. Long-term positions can be set up in this range. What do you all think—3950 first, or straight to 4320?