{"id":23094,"date":"2025-07-10T04:39:05","date_gmt":"2025-07-10T04:39:05","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=23094"},"modified":"2025-07-10T04:39:05","modified_gmt":"2025-07-10T04:39:05","slug":"daily-commentary-232","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-232-20250710\/","title":{"rendered":"GOLD battles 50-day SMA on the road to recovery"},"content":{"rendered":"<ul class=\"has-text-color wp-block-list\" style=\"color:#f40307\">\n<li><strong>Gold price builds on Wednesday\u2019s rebound from weekly lows early Thursday.<\/strong><\/li>\n\n\n\n<li><strong>The US Dollar stays pressured alongside Treasury yields amid looming trade concerns.<\/strong><\/li>\n\n\n\n<li><strong>Gold price bounces off 38.2% Fibo support; will it find acceptance above 50-day SMA?<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Gold price extends the rebound from weekly lows of $3,283 in Asian trading on Thursday, helped by increased concerns surrounding US President Trump\u2019s latest tariff announcements and falling US Treasury bond yields.<\/p>\n\n\n\n<p>Gold price staged a decent comeback in Wednesday\u2019s American trading even as risk sentiment remained slightly in a sweeter spot, courtesy of Nvidia hitting $4-trillion valuation.A broadly weaker USD, amid falling US Treasury bond yields and renewed concerns over a likely trade war, helped Gold price find its footing.<\/p>\n\n\n\n<p>US Treasury bond yields succumbed to resurfacing economic growth concerns and strong demand for the Treasury in the $39 bln 10-year note sale.<\/p>\n\n\n\n<p>President Trump on Wednesday issued August 1 tariff notices to seven minor trading partners, with a 20% tariff on goods from the Philippines, 30% on goods from Sri Lanka, Algeria, Iraq, and Libya, and 25% on Brunei and Moldova.He later announced a new 50% tariff on US copper imports and a 50% duty on goods from Brazil, both effective on August 1.<\/p>\n\n\n\n<p>Lingering trade tensions offset the hawkish Minutes of the US Fed July meeting, rendering positive for the bright metal.<\/p>\n\n\n\n<p>The Minutes \u201cshowed that only &#8220;a couple&#8221; of Fed officials believed interest rate cuts could happen as early as this month, with most favouring reductions later this year,\u201d per Reuters.<\/p>\n\n\n\n<p>All eyes now remain on Trump\u2019s tariff talks, mid-tier US economic data releases and speeches from a few Fed policymakers due later this Thursday for fresh trading directives in Gold price.<\/p>\n\n\n\n<p>In the meantime, the sustained weakness in the US Dollar and sluggish Treasury bond yields could continue to lend support to the non-yielding Gold price.<\/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\/07\/image-2-1024x402.png\" alt=\"\" class=\"wp-image-23095\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/07\/image-2-1024x402.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/07\/image-2-300x118.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/07\/image-2-768x301.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/07\/image-2-1536x602.png 1536w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/07\/image-2-18x7.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/07\/image-2.png 1594w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n\n\n\n<p>Despite Tuesday\u2019s range breakdown, Gold price managed to recapture the critical 38.2% Fibo level of the April record rally at $3,297 on Wednesday, having briefly tested offers underneath that level.<\/p>\n\n\n\n<p>The Gold price upswing could be justified by the recovery in the 14-day RSI. However, the leading indicator still holds below the midline, currently near 48.50, suggesting a lack of bullish conviction.<\/p>\n\n\n\n<p>Therefore, buyers need to take out the support-turned-resistance of the 50-day SMA at $3,323 on a sustained basis to initiate a meaningful recovery toward the 21-day SMA at $3,346.Further up, the 23.6% Fibo level of the same advance at $3,377 could offer stiff resistance to Gold buyers.<\/p>\n\n\n\n<p>On the other hand, a rejection at the 50-day SMA will likely reinforce selling pressure, sending Gold price back to test the 38.2% Fibo support at $3,297.<\/p>\n\n\n\n<p>Acceptance under that level could open up additional downside toward the monthly low of $3,248.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gold price extends the rebound from weekly lows of $3,283 in Asian trading on Thursday, helped by increased concerns surrounding US President Trump\u2019s latest tariff announcements and falling US Treasury bond yields. Gold price staged a decent comeback in Wednesday\u2019s American trading even as risk sentiment remained slightly in a sweeter spot, courtesy of Nvidia &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-232-20250710\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GOLD battles 50-day SMA on the road to recovery&#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-23094","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\/23094","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=23094"}],"version-history":[{"count":1,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23094\/revisions"}],"predecessor-version":[{"id":23096,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23094\/revisions\/23096"}],"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=23094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=23094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=23094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}