{"id":188669,"date":"2023-11-07T07:54:40","date_gmt":"2023-11-07T02:24:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=188669"},"modified":"2023-11-07T07:54:40","modified_gmt":"2023-11-07T02:24:40","slug":"xau-usd-extends-losses-near-1970-as-capital-shifts-to-riskier-assets-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xau-usd-extends-losses-near-1970-as-capital-shifts-to-riskier-assets-crypto-news\/","title":{"rendered":"XAU\/USD extends losses near $1,970 as capital shifts to riskier assets &#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 declines as capital shifts toward riskier assets due to improved risk sentiment.<\/strong><\/li>\n<li><strong>Gold demand is reduced due to the resurgence in US Treasury yields.<\/strong><\/li>\n<li><strong>Upbeat China\u2019s Trade Balance data could provide support for\u00a0the price\u00a0of the precious metal.<\/strong><\/li>\n<\/ul>\n<p>Gold price losses more ground, which can be attributed to the prevailing optimistic <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/sentiment\">market sentiment<\/a>, leading to a shift in capital towards other, more risk-inclined assets. The price of the yellow metal trades lower around $1,970 per troy ounce during the Asian session on Tuesday.<\/p>\n<p>Moreover, the reduced demand for the precious metal is linked to the resurgence in US Treasury yields, as the 10-year US Treasury yield bounced back from the six-week low observed on Friday. At the time of writing, the long-term bond yield rests at 4.63%. The positive momentum in US bond yields bolsters\u00a0the strength of the US Dollar (USD), evident in the rebound of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">the US Dollar Index<\/a> (DXY) from its two-month low, trading near 105.20 at the moment.<\/p>\n<p>However, bullion prices saw an uptick as investor sentiment improved on\u00a0speculation suggesting that the US Federal Reserve (Fed) might halt its monetary policy tightening, fueled by lackluster employment data from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">United States<\/a> (US).\u00a0In addition, the latest report from the World Gold Council (WGC) reveals that the world&#8217;s central banks acquired a combined 337 metric tons of gold in Q3. Year-to-date, these banks have added an impressive 800 tons to their reserves. Notably, emerging markets took the lead among the largest buyers, reflecting a continued trend of diversification away from the US dollar.<\/p>\n<p>However, the contained conflict in the Middle East between Israel and Hamas has prompted outflows from non-yielding assets like Gold.<\/p>\n<p>Additionally, traders may keep an eye on China&#8217;s Trade Balance data for October scheduled to be released later in the day, anticipated to climb to $81.95B from the previous $77.71B. A Trade Surplus exceeding expectations could potentially boost the demand for gold.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Gold price declines as capital shifts toward riskier assets due to improved risk sentiment. Gold demand is reduced due to the resurgence in US Treasury yields. Upbeat China\u2019s Trade Balance data could provide support for\u00a0the price\u00a0of the precious metal. Gold price losses more ground, which can be attributed to the prevailing optimistic market sentiment, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":17161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,484,255,250,333,252,247,253,249,256,254,485],"class_list":["post-188669","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-macroeconomics","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress","tag-xauusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/188669","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=188669"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/188669\/revisions"}],"predecessor-version":[{"id":188670,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/188669\/revisions\/188670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/17161"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=188669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=188669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=188669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}