* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 17, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Bella Thorne Shows Off Her Toned Abs in Crop Top – Yahoo

    Bella Thorne Shows Off Her Toned Abs in a Chic Crop Top

    Bricktown continues to thrive as OKC’s entertainment district – OKC VeloCity

    Bricktown Shines as Oklahoma City’s Premier Entertainment Hotspot

    This Haunting ‘60s Country Song Is Even More Tragic Than You Remember – Yahoo

    This Haunting ’60s Country Song Will Break Your Heart All Over Again

    Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

    Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    DLG−Agrifuture Concept Winners 2025 announced – Visionary Ideas in agricultural technology recognized – TheNewsMarket

    Meet the Visionary Innovators Revolutionizing Agricultural Technology in 2025

    Spanning the Gulf: Global Defence Technology 155 – Army Technology

    Spanning the Gulf: Exploring Cutting-Edge Global Defence Technology

    A Nobel Prize for explaining when technology leads to growth – NPR

    Nobel Prize Awarded for Unraveling How Technology Drives Economic Growth

    Erie Canal’s 200th anniversary: How a technological marvel for trade changed the environment forever – The Conversation

    Erie Canal’s 200th Anniversary: How a Trade Marvel Transformed the Environment Forever

    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Bella Thorne Shows Off Her Toned Abs in Crop Top – Yahoo

    Bella Thorne Shows Off Her Toned Abs in a Chic Crop Top

    Bricktown continues to thrive as OKC’s entertainment district – OKC VeloCity

    Bricktown Shines as Oklahoma City’s Premier Entertainment Hotspot

    This Haunting ‘60s Country Song Is Even More Tragic Than You Remember – Yahoo

    This Haunting ’60s Country Song Will Break Your Heart All Over Again

    Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

    Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    DLG−Agrifuture Concept Winners 2025 announced – Visionary Ideas in agricultural technology recognized – TheNewsMarket

    Meet the Visionary Innovators Revolutionizing Agricultural Technology in 2025

    Spanning the Gulf: Global Defence Technology 155 – Army Technology

    Spanning the Gulf: Exploring Cutting-Edge Global Defence Technology

    A Nobel Prize for explaining when technology leads to growth – NPR

    Nobel Prize Awarded for Unraveling How Technology Drives Economic Growth

    Erie Canal’s 200th anniversary: How a technological marvel for trade changed the environment forever – The Conversation

    Erie Canal’s 200th Anniversary: How a Trade Marvel Transformed the Environment Forever

    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Gold advances on weaker than expected US data despite strong US Dollar

May 11, 2024
in Business
Gold advances on weaker than expected US data despite strong US Dollar
Share on FacebookShare on Twitter

Gold rebounds from daily lows, propelled by a sharp drop in US consumer sentiment and future economic outlook.
High US Treasury yields weren’t an excuse for Gold’s advance.
US consumers expect inflation to remain above 3% over a one-year period.
Fed officials are cautious about rate cuts, with mixed signals from different Fed governors.

Gold prices advanced sharply late in the North American session on Friday, up by more than 1% despite US Treasury bond yields remaining high. A University of Michigan (UoM) survey showed that Americans had become pessimistic about the economy as Consumer Sentiment plunged to its lowest level in six months.

The XAU/USD trades at $2,369 after bouncing off daily lows of $2,343. Friday’s sentiment data and the weaker labor market figures revealed since the beginning of May paint a gloomy outlook for the economy of the United States (US). Although fears of a pronounced economic slowdown remain low, market participants seeking safety drove the golden metal and the US Dollar higher.

Federal Reserve officials continued to cross newswires. Atlanta’s Fed President Raphael Bostic remained hawkish, saying the Fed is on track to just one rate cut in 2024. Later, Fed Governor Michelle Bowman said that policy needs to be kept “steady” and doesn’t see rate cuts as warranted this year. The Dallas Fed’s Lorie Logan disregarded the idea of cutting interest rates.

Minneapolis Fed Neel Kashkari has recently said he is in “wait and see mode” about future monetary policy.

Next week, the US docket will feature the release of inflation figures, retail sales, building permits and Fed speeches.

Daily digest market movers: Gold strengthens as US data increases Fed rate cut hopes

Gold prices fell amid lower US Treasury yields and a strong US Dollar. The US 10-year Treasury note yields 4.504% and gained almost five basis points (bps) from its opening level. The US Dollar Index (DXY), which tracks the Greenback’s performance against six other currencies, rose 0.12% to 105.32.
The University of Michigan Consumer Sentiment Index significantly declined in May, falling from 77.2 in April to 67.4 and did not meet the analysts’ expectations of 76. Joanne Hsu, the Director of the UoM Survey, highlighted that the 10-point drop is statistically significant and marks the lowest level of consumer sentiment recorded in approximately six months.
Additionally, inflation expectations have escalated. Inflation expectations rose from 3.2% to 3.5% in May for the one-year outlook. Over a 10-year period, expectations increased slightly from 3.0% to 3.1%.
Softer-than-expected labor market figures, as shown by last month’s US employment report and unemployment claims data, may exert pressure on the Fed. Officials recognized that the risks to achieving the Fed’s dual mandate of fostering maximum employment and price stability have become more balanced over the past year.
After the data release, Fed rate cut probabilities increased from around 33 basis points (bps) to 34 bps points of rate cuts toward the end of 2024.

Technical analysis: Gold price resumes its uptrend, climbs above $2,350

Gold remains bullishly biased even though it retreated some 6% from its all-time high of $2,431, hit on April 12. Momentum shows that buyers are gathering steam, which is visible in the Relative Strength Index (RSI) shifting bullish since the start of May.

XAU/USD buyers cleared the April 26 high at $2,352. Despite that, Gold has consolidated at around $2,360-$2,378, with buyers unable to test the $2,400 figure. Once cleared, the next stop would be the April 19 high at $2,417, followed by the all-time high of $2,431.

Conversely, further losses are seen if Gold slides beneath the $2,300 mark. The next support would be the 50-day Simple Moving Average (SMA) at $2,249.

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/gold-price-soars-above-2-350-as-us-consumer-sentiment-deteriorates-202405101917

Tags: advancesbusinessweaker
Previous Post

Fed’s Barkin: Inflation will hit 2% with appropriate time and policy

Next Post

NZD/USD Price Analysis: Momentum slackens as buyers get rejected at the 200-day SMA

Driving in circles – Economy and ecology – ips-journal.eu

Driving in circles – Economy and ecology – ips-journal.eu

October 17, 2025
RFK Jr’s Health Policies Are Helping China Defeat America in Science – The National Interest

How RFK Jr.’s Health Policies Are Shaping the Global Science Race-and Giving China a Leading Advantage

October 17, 2025
VIDEO: Gustafson House serves new role for Forensic Science – University of North Dakota

Watch Gustafson House Evolve into a Cutting-Edge Center for Forensic Science Innovation

October 17, 2025
Customizable Finger Brace Eases Rehab, Arthritis Care – Black Belt News Network

Revolutionary Customizable Finger Brace Transforms Rehab and Arthritis Relief

October 17, 2025
DLG−Agrifuture Concept Winners 2025 announced – Visionary Ideas in agricultural technology recognized – TheNewsMarket

Meet the Visionary Innovators Revolutionizing Agricultural Technology in 2025

October 17, 2025
Editor Score Predictions: Nebraska vs. Minnesota – The Daily Nebraskan

Epic Clash Ahead: Nebraska vs. Minnesota Predictions Unveiled

October 17, 2025
How People Around the World View AI – Pew Research Center

How People Around the World Really Feel About AI: Surprising Insights Revealed

October 17, 2025
75% of Americans report soaring prices as Trump claims inflation ‘over’ – The Guardian

75% of Americans Struggle with Soaring Prices Despite Trump’s Claim That Inflation Is ‘Over

October 17, 2025
Bella Thorne Shows Off Her Toned Abs in Crop Top – Yahoo

Bella Thorne Shows Off Her Toned Abs in a Chic Crop Top

October 17, 2025
Takeaways from the first general election debate in the NYC mayoral race – CNN

Takeaways from the first general election debate in the NYC mayoral race – CNN

October 17, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (872)
  • Economy (893)
  • Entertainment (21,765)
  • General (17,647)
  • Health (9,934)
  • Lifestyle (906)
  • News (22,149)
  • People (894)
  • Politics (903)
  • Science (16,104)
  • Sports (21,393)
  • Technology (15,873)
  • World (876)

Recent News

Driving in circles – Economy and ecology – ips-journal.eu

Driving in circles – Economy and ecology – ips-journal.eu

October 17, 2025
RFK Jr’s Health Policies Are Helping China Defeat America in Science – The National Interest

How RFK Jr.’s Health Policies Are Shaping the Global Science Race-and Giving China a Leading Advantage

October 17, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version