{"id":187960,"date":"2023-11-06T08:36:15","date_gmt":"2023-11-06T03:06:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=187960"},"modified":"2023-11-06T08:36:15","modified_gmt":"2023-11-06T03:06:15","slug":"xau-usd-consolidates-near-1990-amid-improved-risk-appetite-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xau-usd-consolidates-near-1990-amid-improved-risk-appetite-crypto-news\/","title":{"rendered":"XAU\/USD consolidates near $1,990 amid improved risk appetite &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>Gold price gained support as cooling US data signals\u00a0the Fed to conclude its\u00a0policy tightening.<\/strong><\/li>\n<li><strong>US Dollar faces pressure after the subdued Nonfarm Payrolls data released on Friday.<\/strong><\/li>\n<li><strong>Improved risk appetite could limit the advance of the precious metal demand.<\/strong><\/li>\n<\/ul>\n<p>Gold price hovers around $1,990 per troy ounce during the Asian session on Monday, struggling to continue the winning streak. However, the bullion prices improved on expectations that the US Federal Reserve (Fed) may conclude its monetary policy tightening after the subdued employment data from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">United States<\/a> (US).<\/p>\n<p>However, Gold prices could experience downward pressure amidst a heightened <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/sentiment\/risk-appetite\">risk appetite<\/a> as investors may cast out the precious metal in favor of more risk-driven assets, driven by the belief that the US <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Fed<\/a> may not attempt an\u00a0interest rate hike in the upcoming December meeting.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">US Dollar Index<\/a> (DXY) took a notable plunge of more than 1.0% on Friday, influenced by lackluster US Treasury yields following disappointing US labor data. As of now, the 10-year US bond yield is at 4.58%, providing a degree of relief for the prices of the yellow metal.<\/p>\n<p>US Bureau of Labor Statistics unveiled the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/economic-indicator\/nfp\">Non-Farm Payrolls<\/a> (NFP) data for October on Friday, showing a count of 150K. This missed the expected 180K and represented a notable drop from September&#8217;s 297K. The month-on-month change in Average Hourly Earnings dipped to 0.2%, deviating from the expected steady 0.3%.<\/p>\n<p>Moreover, the US Unemployment Rate climbed to 3.9%, contrary to the market&#8217;s expectation of holding steady at 3.8% in October. The ISM Services Purchasing Managers&#8217; Index (PMI) dropped to 51.8 from the previous 53.6. On Thursday, the US Department of Labor released the tally of initial claims for unemployment benefits for the week ending October 27, revealing an increase from 212,000 to 217,000.<\/p>\n<p>Gold saw an uptick in demand as a safe haven amid the Israel-Hamas conflict. However, traders could\u00a0adjust\u00a0their stance, anticipating a reduced risk premium as concerns ease about the conflict expanding across the broader Middle East. The evolving situation and efforts by multiple nations to broker a ceasefire will be closely monitored for further market insights.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Gold price gained support as cooling US data signals\u00a0the Fed to conclude its\u00a0policy tightening. US Dollar faces pressure after the subdued Nonfarm Payrolls data released on Friday. Improved risk appetite could limit the advance of the precious metal demand. Gold price hovers around $1,990 per troy ounce during the Asian session on Monday, struggling [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,484,255,250,252,247,253,385,249,256,254,485],"class_list":["post-187960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-commodities","tag-cryptocurrency","tag-gold","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-riskappetite","tag-safe-moon","tag-wallet","tag-wordpress","tag-xauusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=187960"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187960\/revisions"}],"predecessor-version":[{"id":187961,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187960\/revisions\/187961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7217"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=187960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=187960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=187960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}