{"id":22065,"date":"2024-10-14T03:38:04","date_gmt":"2024-10-14T03:38:04","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=22065"},"modified":"2024-10-14T03:38:04","modified_gmt":"2024-10-14T03:38:04","slug":"daily-commentary-114","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-114-20241014\/","title":{"rendered":"\u0e04\u0e32\u0e14\u0e01\u0e32\u0e23\u0e13\u0e4c\u0e23\u0e32\u0e04\u0e32\u0e17\u0e2d\u0e07\u0e04\u0e33: \u0e1c\u0e39\u0e49\u0e02\u0e32\u0e22 XAU\/USD \u0e01\u0e25\u0e31\u0e1a\u0e21\u0e32 \u0e17\u0e48\u0e32\u0e21\u0e01\u0e25\u0e32\u0e07\u0e04\u0e27\u0e32\u0e21\u0e01\u0e31\u0e07\u0e27\u0e25\u0e40\u0e01\u0e35\u0e48\u0e22\u0e27\u0e01\u0e31\u0e1a\u0e08\u0e35\u0e19 \u0e41\u0e25\u0e30\u0e01\u0e32\u0e23\u0e0b\u0e37\u0e49\u0e2d\u0e02\u0e32\u0e22\u0e17\u0e35\u0e48\u0e40\u0e1a\u0e32\u0e1a\u0e32\u0e07"},"content":{"rendered":"<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Gold price snaps a two-day recovery, ticking lower below $2,650 early Monday. \u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>The US Dollar with Treasury bond yields, as sentiment turns sours on China woes, geopolitics<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Gold price drops back to test 21-day SMA at $2,632 on US Columbus Day.<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\">Gold price is back in the red early Monday after staging a solid comeback late last week. The US Dollar (USD) is building on its previous gains, benefiting from a negative shift in risk sentiment at the start of the week. <\/p>\n\n\n\n<p class=\"has-medium-font-size\">Gold price reels from China\u2019s stimulus pessimism<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Asian traders are stuttering after China\u2019s fiscal stimulus announcement on Saturday has left them unimpressed. China\u2019s Finance Minister Lan Foan reiterated on Saturday their broad plans to revive the ailing economy but failed to offer any details or provide specifics on the stimulus plan. Reuters had reported previously that China was considering issuing special sovereign bonds worth about CNY 2 trillion this year as part of fresh fiscal stimulus.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">This disappointment was followed by China\u2019s consumer and factory-gate price inflation data on Sunday, which showed the extension of the disinflation trend in the world\u2019s biggest consumer, sapping investors\u2019 confidence.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Additionally, intensifying geopolitical tensions between Israel and Iran and also between China and Taiwan remain a cause for concern for investors, and hence, they scurry for safety in the USD at the expense of the Gold price.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">CNN News reported that at least four Israeli soldiers were killed and more than 60 people were injured by a drone attack in north-central Israel on Sunday. Meanwhile, \u201cChina&#8217;s military launched a new round of war games near Taiwan on Monday, saying it was a warning to the &#8220;separatist acts of Taiwan independence forces&#8221;, drawing condemnation from the Taipei and US governments,\u201d per Reuters.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Taiwanese Defence Ministry said in a statement that \u201cwe will not escalate conflict in our response.\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The downside, however, appears cushioned in Gold price, courtesy of the heightened odds that the US Federal Reserve (Fed) will lower interest rates by 25 basis points (bps) at its November 6-7 policy meeting. Markets currently price in about an 86% chance of such a move next month, according to the CME Group\u2019s FedWatch Tool.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The progress in the US disinflation trend and the recent dovish remarks from Fed policymakers continue to suggest that the low-interest-rate regime is here to stay, keeping Gold buyers alive and kicking.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Looking ahead, the broader market sentiment and the USD dynamics will influence the Gold price action amid holiday-thinned conditions, as US traders observe Columbus Day. However, thin liquidity could likely exaggerate Gold price movement.<br><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">\u0e01\u0e32\u0e23\u0e27\u0e34\u0e40\u0e04\u0e23\u0e32\u0e30\u0e2b\u0e4c\u0e17\u0e32\u0e07\u0e40\u0e17\u0e04\u0e19\u0e34\u0e04\u0e23\u0e32\u0e04\u0e32\u0e17\u0e2d\u0e07\u0e04\u0e33: \u0e01\u0e23\u0e32\u0e1f\u0e23\u0e32\u0e22\u0e27\u0e31\u0e19<\/mark><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"402\" src=\"https:\/\/www.maxainasia.com\/wp-content\/uploads\/2024\/10\/image-10-1024x402.png\" alt=\"\" class=\"wp-image-22066\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2024\/10\/image-10-1024x402.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2024\/10\/image-10-300x118.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2024\/10\/image-10-768x302.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2024\/10\/image-10-1536x603.png 1536w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2024\/10\/image-10-18x7.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2024\/10\/image-10.png 1592w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n\n\n\n<p class=\"has-medium-font-size\">After finding a strong foothold above the key 21-day Simple Moving Average (SMA) support, now at $2,632 on Friday, Gold price is struggling to sustain at higher levels.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The 14-day Relative Strength Index (RSI), however, holds firm above the midline, suggesting that any dip in Gold price could be a good buying opportunity in the near term.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">That said, if buyers regain control, the next bullish target for Gold price is seen at Friday\u2019s high of $2,661, followed by the intermittent high at $2,670.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Further up, the record high at $2,686 will come into play.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">On the downside, the immediate support is seen at the 21-day SMA at $2,632, below which the three-week lows near the $2,600 threshold will be tested.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u0e2b\u0e32\u0e01\u0e23\u0e32\u0e04\u0e32\u0e2b\u0e25\u0e38\u0e14\u0e23\u0e30\u0e14\u0e31\u0e1a\u0e14\u0e31\u0e07\u0e01\u0e25\u0e48\u0e32\u0e27\u0e2d\u0e22\u0e48\u0e32\u0e07\u0e15\u0e48\u0e2d\u0e40\u0e19\u0e37\u0e48\u0e2d\u0e07 \u0e2d\u0e32\u0e08\u0e02\u0e22\u0e32\u0e22\u0e01\u0e32\u0e23\u0e1b\u0e23\u0e31\u0e1a\u0e15\u0e31\u0e27\u0e25\u0e07\u0e15\u0e48\u0e2d\u0e44\u0e1b\u0e22\u0e31\u0e07\u0e23\u0e30\u0e14\u0e31\u0e1a\u0e15\u0e48\u0e33\u0e2a\u0e38\u0e14\u0e02\u0e2d\u0e07\u0e40\u0e14\u0e37\u0e2d\u0e19\u0e01\u0e31\u0e19\u0e22\u0e32\u0e22\u0e19 20 \u0e17\u0e35\u0e48 $2,585.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><br><\/p>","protected":false},"excerpt":{"rendered":"<p>Gold price is back in the red early Monday after staging a solid comeback late last week. The US Dollar (USD) is building on its previous gains, benefiting from a negative shift in risk sentiment at the start of the week. Gold price reels from China\u2019s stimulus pessimism Asian traders are stuttering after China\u2019s fiscal &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-114-20241014\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Price Forecast: XAU\/USD sellers return amid China concerns and light trading&#8221;<\/span><\/a><\/p>","protected":false},"author":5,"featured_media":17233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-22065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-commentary"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/22065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/comments?post=22065"}],"version-history":[{"count":1,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/22065\/revisions"}],"predecessor-version":[{"id":22067,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/22065\/revisions\/22067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/media\/17233"}],"wp:attachment":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/media?parent=22065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=22065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=22065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}