{"id":22946,"date":"2025-04-23T06:17:05","date_gmt":"2025-04-23T06:17:05","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=22946"},"modified":"2025-04-23T06:18:33","modified_gmt":"2025-04-23T06:18:33","slug":"daily-commentary-197","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-197-20250423\/","title":{"rendered":"\u0e17\u0e2d\u0e07\u0e04\u0e33\u0e23\u0e48\u0e27\u0e07\u0e41\u0e15\u0e48\u0e22\u0e31\u0e07\u0e44\u0e21\u0e48\u0e2b\u0e21\u0e14\u0e2b\u0e27\u0e31\u0e07 \u0e01\u0e48\u0e2d\u0e19\u0e02\u0e49\u0e2d\u0e21\u0e39\u0e25 PMI \u0e2a\u0e2b\u0e23\u0e31\u0e10"},"content":{"rendered":"<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong>Gold price bounces from multi-day lows as bargain hunting kicks in early Wednesday. &nbsp;<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong>The US Dollar reverses recovery gains as investors doubt President Trump\u2019s intentions.<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong>Gold price appears a \u2018buy-the-dips\u2019 trade as the RSI eases and prods the bullish zone.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Gold price has bounced off the dip to three-day lows near $3,310 early Wednesday as buyers fight back control amid a fading US Dollar (USD) recovery ahead of the US S&amp;P Global preliminary business PMI data release.<\/p>\n\n\n\n<p>Gold price has witnessed volatile trading this week, hitting fresh record highs at $3,500 before facing rejection and slumping toward the $3,300 level. The record run in the Gold price was mainly backed by the markets\u2019 anxiety about the US Federal Reserve (Fed) losing its independence following President Donald Trump\u2019s verbal attacks on Fed Chair Jerome Powell.<\/p>\n\n\n\n<p>The focus shifted from the US-China trade war to Trump\u2019s Fed threat early in the week, exacerbating the US Dollar\u2019s pain while driving the Gold price to new all-time highs. However, the tide turned in favor of the Greenback in Tuesday\u2019s American trading as USD buyers were rescued by US Treasury Secretary Scott Bessent, who said at a closed event that he expects \u201cthere will be a de-escalation\u201d in President Donald Trump\u2019s trade war with China in the \u201cvery near future.\u201d<\/p>\n\n\n\n<p>Hopes of easing US-China trade tensions fuelled a positive shift in risk sentiment and a US Dollar recovery, reflecting an ideal \u2018Tuesday turnaround.\u2019 Investors took this as an excuse to book profits on their Gold long positions as the bright metal corrected as much as $120 from record highs to settle near $3,380.<\/p>\n\n\n\n<p>However, the downside in Gold price remains cushioned as the USD stalls its recovery momentum as markets question Trump\u2019s intentions, citing them as highly unpredictable.<\/p>\n\n\n\n<p>The attention now turns to the S&amp;P Global preliminary Manufacturing and Services PMI data from Europe and the US for further trading impetus. US PMI data for April will be closely scrutinized for fresh signs on the health of the US economy. The data could help markets alter their expectations of Fed interest rate cuts this year.Fed fund futures ran into selling late Tuesday as investors scaled back the extent of rate cuts expected by year-end to around 81 basis points (bps).<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h5 class=\"wp-block-heading has-vivid-red-color has-text-color has-small-font-size\">\u0e01\u0e32\u0e23\u0e27\u0e34\u0e40\u0e04\u0e23\u0e32\u0e30\u0e2b\u0e4c\u0e17\u0e32\u0e07\u0e40\u0e17\u0e04\u0e19\u0e34\u0e04\u0e23\u0e32\u0e22\u0e27\u0e31\u0e19<\/h5>\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\/2025\/04\/image-14-1024x402.png\" alt=\"\" class=\"wp-image-22947\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/04\/image-14-1024x402.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/04\/image-14-300x118.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/04\/image-14-768x301.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/04\/image-14-1536x602.png 1536w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/04\/image-14-18x7.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/04\/image-14.png 1594w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n\n\n\n<p>The daily chart shows that the 14-day Relative Strength Index (RSI) has eased from the overbought territory, returning to the bullish zone.The latest downtick in the leading indicator backs the fresh leg down in Gold price. However, buyers remain hopeful so long as the $3,300 level holds fort.<\/p>\n\n\n\n<p>If the correction deepens, Gold price could challenge the 21-day Simple Moving Average (SMA) at $3,163. Ahead of that, the $3,200 barrier could provide some support to buyers.<\/p>\n\n\n\n<p>Conversely, if the uptrend resumes, Gold price could retake the $3,400 threshold en-route to the record highs of $3,500.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gold price has bounced off the dip to three-day lows near $3,310 early Wednesday as buyers fight back control amid a fading US Dollar (USD) recovery ahead of the US S&amp;P Global preliminary business PMI data release. Gold price has witnessed volatile trading this week, hitting fresh record highs at $3,500 before facing rejection and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-197-20250423\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GOLD down but not out ahead of US PMI data&#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-22946","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\/22946","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=22946"}],"version-history":[{"count":2,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/22946\/revisions"}],"predecessor-version":[{"id":22949,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/22946\/revisions\/22949"}],"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=22946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=22946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=22946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}