{"id":193698,"date":"2023-11-15T03:20:43","date_gmt":"2023-11-14T21:50:43","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=193698"},"modified":"2023-11-15T03:20:43","modified_gmt":"2023-11-14T21:50:43","slug":"xau-usd-surge-as-us-cpi-cools-us-dollar-weakens-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xau-usd-surge-as-us-cpi-cools-us-dollar-weakens-crypto-news\/","title":{"rendered":"XAU\/USD surge as US CPI cools. US Dollar weakens &#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 prices climbed nearly 0.90% to $1963.70, reacting to a drop in US Treasury yields after a softer-than-anticipated US inflation report.<\/strong><\/li>\n<li><strong>October&#8217;s CPI in the US eases to 3.2%, below expectations, leading to a significant decrease in the US 10-year note yield and a 1.50% fall in the Dollar Index.<\/strong><\/li>\n<li><strong>Market focus shifts to upcoming US economic data, including PPI and Retail Sales, for further cues on the Federal Reserve&#8217;s policy direction.<\/strong><\/li>\n<\/ul>\n<p>Gold price climbs close to 0.90% on Tuesday after hitting a daily low of $1938.84 due to a plunge in US Treasury bond yields courtesy of a softer inflation report in the United States (US). That weighed on the Greenback, which so far has lost more than 1.50% of its value against a basket of currencies, hence the jump in the price of yellow metal. The XAU\/USD is trading at $1963.70.<\/p>\n<h2 class=\"fxs_headline_medium\">XAU\/USD Nears $1964 Mark Amid Declining Treasury Yields and Lower-than-Expected CPI Data<\/h2>\n<p>The US Bureau of Labor Statistics (BLS) reported that October&#8217;s inflation cooled more than expected. The Consumer Price Index (CPI) for the 12 months came in at 3.2%, down from the previous reading of 3.7%. Additionally, the monthly CPI figure was 0%, below the 0.1% expected by most economists.<\/p>\n<p>Furthermore, the report indicated that core CPI, which excludes volatile items and is often considered a more stable measure of inflation, decreased by a tenth of a percent. It fell from the prior month&#8217;s reading of 4.1% to 4%, missing estimates that had predicted it would remain at 4.1%.<\/p>\n<p>The release of this data has caused a significant decline in the US 10-year benchmark note yield, which decreased by more than 18 basis points and is currently at 4.45%, levels not seen since September 22, 2023. Consequently, the US <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">Dollar Index<\/a> (DXY) dropped by more than 1.50%, falling to 104.13. This decline follows a daily high of 105.73.<\/p>\n<p>Consequently, XAU\/USD jumped from below $1940 toward the $1970.92 daily high before trimming some of its gains and stabilizing at around the current spot price. Nevertheless, upside risks remain as the 20-day moving average (DMA) lies at $1972.81, which, once breached, could open the door for further upside.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">US economic docket<\/a> would feature the Producer Price Index (PPI), Retail Sales, the New York <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Fed<\/a> Empire States Manufacturing Index, and Federal Reserve speakers.<\/p>\n<h2 class=\"fxs_headline_medium\">Gold Technical Levels<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Gold prices climbed nearly 0.90% to $1963.70, reacting to a drop in US Treasury yields after a softer-than-anticipated US inflation report. October&#8217;s CPI in the US eases to 3.2%, below expectations, leading to a significant decrease in the US 10-year note yield and a 1.50% fall in the Dollar Index. Market focus shifts to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,2321,484,255,250,350,252,247,253,249,256,254,485],"class_list":["post-193698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-fundamental-analysis","tag-gold","tag-gta","tag-looks-rare","tag-metals","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\/193698","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=193698"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/193698\/revisions"}],"predecessor-version":[{"id":193699,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/193698\/revisions\/193699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/14827"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=193698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=193698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=193698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}