{"id":23217,"date":"2025-08-26T05:23:22","date_gmt":"2025-08-26T05:23:22","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=23217"},"modified":"2025-08-26T05:23:22","modified_gmt":"2025-08-26T05:23:22","slug":"daily-commentary-263","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-263-20250826\/","title":{"rendered":"GOLD remains poised to test stiff resistance at $3,400"},"content":{"rendered":"<p><\/p>\n\n\n\n<ul style=\"color:#f40307\" class=\"wp-block-list has-text-color\">\n<li><strong>Gold pops as concerns over the Fed\u2019s independence resurface after Trump fired Governor Cook.<\/strong><\/li>\n\n\n\n<li><strong>US Dollar attempts a tepid recovery, tracking US Treasury yields rebound but sellers will likely retain control. \u00a0<\/strong><\/li>\n\n\n\n<li><strong>Technically, Gold stays supported whilst above $3,350 amid daily bullish RSI.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Gold finds renewed demand and eyes $3,400 early Tuesday, following a brief pullback stint on Monday. Buyers gather pace near 11-day highs above $3,380 before the next push higher.<\/p>\n\n\n\n<p>The latest upswing in Gold from near $3,350 area toward $3,400 could be mainly attributed broad sell-off in the USD and shorter-duration US Treasury bond yields as resurfacing concerns over the US Fed independence and credibility undermined confidence in US assets.<\/p>\n\n\n\n<p>US President Donald Trump said on social media early Tuesday that he was removing Lisa Cook from her position on the Fed&#8217;s board of directors, noting that \u201cthere was enough evidence that Cook had made false statements on mortgage applications,\u201d per Reuters.<\/p>\n\n\n\n<p>Following these headlines, risk aversion gripped markets and investors ran for cover in safe-haven assets such as the JPY, Gold, US Treasuries etc.The Greenback gave back the previous recovery gains, further undermined by increased bets that the Fed will deliver a 25 basis points interest rate cut next month.<\/p>\n\n\n\n<p>These expectations were fuelled by Fed Chair Jerome Powell\u2019s surprise dovish pivot at the Jackson Hole Economic Symposium last week.<\/p>\n\n\n\n<p>However, over the last hours, the USD has embarked on a tepid rebound as Trump\u2019s fresh tariff threats revive its appeal as a safe haven.US president threatened to impose 200% tariffs on targeted goods if China doesn&#8217;t &#8220;give us magnets&#8221;.<\/p>\n\n\n\n<p>He also threatened &#8220;subsequent additional tariffs&#8221; and export restrictions on advanced technology and semiconductors in retaliation for digital services taxes that hit American technology companies.<\/p>\n\n\n\n<p>Later in the day, a bunch of mid-tier economic data releases from the US will be closely scrutinized for fresh hints on the Fed\u2019s path forward on rates beyond the September policy meeting.<\/p>\n\n\n\n<p>Additionally, Trump\u2019s tariff tantrums and attacks on the Fed will also remain a key driving force behind the performance of Gold and the US currency.<\/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\/08\/image-17-1024x402.png\" alt=\"\" class=\"wp-image-23218\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/08\/image-17-1024x402.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/08\/image-17-300x118.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/08\/image-17-768x301.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/08\/image-17-1536x602.png 1536w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/08\/image-17-18x7.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/08\/image-17.png 1594w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n\n\n\n<p>The short-term technical outlook for Gold looks constructive so long as the 14-day RSI stays above the 50 level. The leading indicator is currently pointing north to near 54.50.<\/p>\n\n\n\n<p>Buyers are likely to extend their control as the 21-day SMA closed above the 50-day SMA on Monday, validating a Bull Cross.<\/p>\n\n\n\n<p>The immediate resistance is seen in the $3,400 neighborhood, above which the static resistance at around $3,440 will be back in play.<\/p>\n\n\n\n<p>On the other hand, sellers need to crack the 21-day SMA and the 50-day SMA confluence area near $3,350 to regain control.<\/p>\n\n\n\n<p>The next solid support is located at the 100-day SMA at $3,324. Only a sustained move below the latter will negate any positive bias in the medium term.<\/p>\n\n\n\n<p>\u0e42\u0e1b\u0e23\u0e14\u0e17\u0e23\u0e32\u0e1a\u0e27\u0e48\u0e32\u0e17\u0e2d\u0e07\u0e04\u0e33\u0e22\u0e31\u0e07\u0e44\u0e21\u0e48\u0e40\u0e04\u0e22\u0e1b\u0e34\u0e14\u0e15\u0e48\u0e33\u0e01\u0e27\u0e48\u0e32\u0e40\u0e2a\u0e49\u0e19\u0e04\u0e48\u0e32\u0e40\u0e09\u0e25\u0e35\u0e48\u0e22\u0e40\u0e04\u0e25\u0e37\u0e48\u0e2d\u0e19\u0e17\u0e35\u0e48 100 \u0e27\u0e31\u0e19 \u0e19\u0e31\u0e1a\u0e15\u0e31\u0e49\u0e07\u0e41\u0e15\u0e48\u0e27\u0e31\u0e19\u0e17\u0e35\u0e48 31 \u0e18\u0e31\u0e19\u0e27\u0e32\u0e04\u0e21 2024.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gold finds renewed demand and eyes $3,400 early Tuesday, following a brief pullback stint on Monday. Buyers gather pace near 11-day highs above $3,380 before the next push higher. The latest upswing in Gold from near $3,350 area toward $3,400 could be mainly attributed broad sell-off in the USD and shorter-duration US Treasury bond yields &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-263-20250826\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GOLD remains poised to test stiff resistance at $3,400&#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-23217","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\/23217","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=23217"}],"version-history":[{"count":1,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23217\/revisions"}],"predecessor-version":[{"id":23219,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23217\/revisions\/23219"}],"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=23217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=23217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=23217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}