{"id":23077,"date":"2025-06-26T04:34:24","date_gmt":"2025-06-26T04:34:24","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=23077"},"modified":"2025-06-26T04:34:24","modified_gmt":"2025-06-26T04:34:24","slug":"daily-commentary-228","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-228-20250626\/","title":{"rendered":"GOLD ranges between two key barriers as eyes turn to US PCE inflation"},"content":{"rendered":"<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong>Gold price consolidates the previous rebound above key $3,225 support early Thursday.<\/strong><\/li>\n\n\n\n<li><strong>US Dollar hits fresh three-year lows across the board as President Trump attacks Fed\u2019s credibility again. &nbsp;&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Gold price remains stuck between 21-day SMA and 50-day SMA amid a neutral daily RSI.<\/strong><\/li>\n\n\n\n<li><strong>All eyes now remain on Thursday\u2019s mid-tier US data and the US PCE inflation data on Friday.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Gold price is struggling to build on the previous rebound from weekly lows early Thursday even as the USD flirts with three-year lows against its major currency rivals. The Greenback extends its four-day losing streak, with the latest leg south fuelled by US President Trump\u2019s fresh attack on the Fed credibility.<\/p>\n\n\n\n<p>Citing some sources, the WSJ reported early Thursday that President Trump is considering selecting and announcing a successor for Fed Chair Jerome Powell by September or October.<\/p>\n\n\n\n<p>Despite the persistent US Dollar weakness, Gold is finding it difficult to extend the recovery as the Iran-Israel truce offers markets some reprieve.<\/p>\n\n\n\n<p>Additionally, Gold price continues to face headwinds from the recent pushback against expectations of a July Fed rate cut by Chair Powell during his two-day congressional testimonies.Powell told US lawmakers earlier in the week that he is in no hurry to cut interest rates until the Fed gets a clearer picture over whether Trump\u2019s tariffs have pushed inflation to uncomfortably high levels.<\/p>\n\n\n\n<p>Moving on, Gold price could regain upside traction if the Greenback loses further ground on growing concerns over the Fed\u2019s independence.<\/p>\n\n\n\n<p>Meanwhile, traders will closely eye the mid-tier US Durable Goods, Jobless Claims and Pending Home Sales data for fresh trading incentives.However, Gold price could await Friday\u2019s US PCE Price Index data before embarking on a clear directional path.<\/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\/06\/image-13-1024x402.png\" alt=\"\" class=\"wp-image-23078\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/06\/image-13-1024x402.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/06\/image-13-300x118.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/06\/image-13-768x301.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/06\/image-13-1536x602.png 1536w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/06\/image-13-18x7.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/06\/image-13.png 1594w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n\n\n\n<p>There is little change in the short-term technical outlook for Gold price.The daily chart shows that Gold price is holding onto the strong support of the 50-day SMA at $3,325.<\/p>\n\n\n\n<p>Meanwhile, the upside appears limited by the 21-day SMA at $3,355.The 14-day RSI is gyrating around midline, currently trading near 50.20, suggesting two-way risks for the bright metal.<\/p>\n\n\n\n<p>A failure to resist above the 50-day SMA on a daily closing basis will retest the 38.2% Fibo level of the April record rally at $3,297.A sustained break of the latter could trigger a fresh downtrend toward the $3,250 psychological barrier, below which the 50% Fibo level at $3,232 will come into play.<\/p>\n\n\n\n<p>Alternatively, recapturing the 21-day SMA at $3,352 is critical for a sustained recovery from two-week troughs.The next upside hurdle is aligned at the 23.6% Fibo level at $3,377.Gold buyers will then target the $3,400 threshold once the 23.6% Fibo resistance is decisively taken out.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gold price is struggling to build on the previous rebound from weekly lows early Thursday even as the USD flirts with three-year lows against its major currency rivals. The Greenback extends its four-day losing streak, with the latest leg south fuelled by US President Trump\u2019s fresh attack on the Fed credibility. Citing some sources, the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-228-20250626\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GOLD ranges between two key barriers as eyes turn to US PCE inflation&#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-23077","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\/23077","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=23077"}],"version-history":[{"count":1,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23077\/revisions"}],"predecessor-version":[{"id":23079,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23077\/revisions\/23079"}],"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=23077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=23077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=23077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}