{"id":23301,"date":"2025-10-14T05:36:04","date_gmt":"2025-10-14T05:36:04","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=23301"},"modified":"2025-10-14T05:36:04","modified_gmt":"2025-10-14T05:36:04","slug":"daily-commentary-283","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-283-20251014\/","title":{"rendered":"GOLD testing critical topside hurdle ahead of Powell\u2019s speech"},"content":{"rendered":"<ul style=\"color:#f40307\" class=\"wp-block-list has-text-color\">\n<li><strong>Gold keeps on printing new record highs beyond the $4,100 threshold; focus shifts to Powell\u2019s speech.<\/strong><\/li>\n\n\n\n<li><strong>US Dollar pauses overnight rebound, led by easing signs of US-China trade tensions. \u00a0\u00a0\u00a0<\/strong><\/li>\n\n\n\n<li><strong>Gold stays within the rising channel on the daily chart, with RSI back in the extreme overbought conditions.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Gold is stretching its record-setting run early Tuesday, as the bullish sentiment remains unabated amid looming US-China trade risks and in anticipation of US Fed Chair Jerome Powell\u2019s speech later in the day.<\/p>\n\n\n\n<p>Amidst a pause in the USD overnight rebound and ongoing US-China trade talks, Gold buyers flex their muscles.<\/p>\n\n\n\n<p>China\u2019s Commerce Ministry confirmed early Tuesday that it had notified the US. in advance of its new rare earth export controls and held working-level talks on Monday under existing trade consultation channels.<\/p>\n\n\n\n<p>The underlying positive factors, such as persistent expectations that the Fed will deliver two interest rate cuts this year, the extended US government shutdown and potential US-China trade war escalation continue to lend support to buyers.<\/p>\n\n\n\n<p>Gold\u2019s record-setting advance remains powered by the bullish inertia, in the absence of any bearish fundamentals.<\/p>\n\n\n\n<p>Traders now look forward to a slew of speeches from the Fed officials, including Chairman Jerome Powell\u2019s, for fresh hints on the scope of rate cuts by the year-end.<\/p>\n\n\n\n<p>Powell is due to speak about the \u201cEconomic Outlook and Monetary Policy\u201d at the National Association for Business Economics Annual Meeting, Philadelphia.<\/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=\"364\" src=\"https:\/\/www.maxainasia.com\/wp-content\/uploads\/2025\/10\/image-4-1024x364.png\" alt=\"\" class=\"wp-image-23302\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/10\/image-4-1024x364.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/10\/image-4-300x107.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/10\/image-4-768x273.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/10\/image-4-18x6.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/10\/image-4.png 1536w\" 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 RSI is back into the extreme overbought zone, currently near 82.50,Meanwhile, Gold buyers are once again challenging the upper boundary of the month-long rising channel, now at $4,162.<\/p>\n\n\n\n<p>Gold could see a brief corrective pullback if it faces rejection at the abovementioned level amid heavily overbought RSI conditions.In that case, sellers could attack the lower boundary of the rising channel at $4,014.<\/p>\n\n\n\n<p>A daily candlestick closing basis below the latter would confirm a downside break from the channel, fuelling further correction toward the $3,950 psychological mark.<\/p>\n\n\n\n<p>Further south, the $3,895 supply zone (October 1 and 2 highs) could come into play.<\/p>\n\n\n\n<p>However, if buyers manage to take out the topside hurdle of the channel at $4,162 on a sustained basis, the record-setting rally could extend toward the $4,200 round level.<\/p>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Gold is stretching its record-setting run early Tuesday, as the bullish sentiment remains unabated amid looming US-China trade risks and in anticipation of US Fed Chair Jerome Powell\u2019s speech later in the day. Amidst a pause in the USD overnight rebound and ongoing US-China trade talks, Gold buyers flex their muscles. China\u2019s Commerce Ministry confirmed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-283-20251014\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GOLD testing critical topside hurdle ahead of Powell\u2019s speech&#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-23301","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\/23301","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=23301"}],"version-history":[{"count":1,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23301\/revisions"}],"predecessor-version":[{"id":23303,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23301\/revisions\/23303"}],"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=23301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=23301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=23301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}