{"id":200403,"date":"2023-11-25T10:42:02","date_gmt":"2023-11-25T05:12:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=200403"},"modified":"2023-11-25T10:42:02","modified_gmt":"2023-11-25T05:12:02","slug":"xau-usd-find-demand-after-mixed-sp-pmisus-dollar-weakness-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xau-usd-find-demand-after-mixed-sp-pmisus-dollar-weakness-crypto-news\/","title":{"rendered":"XAU\/USD find demand after mixed S&amp;P PMIs,US Dollar weakness &#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>The XAU\/USD sees a boost, ascending to the $2000 level.\u00a0 \u00a0<\/strong><\/li>\n<li><strong>The US Dollar weakened after mixed S&amp;P PMIs.<\/strong><\/li>\n<li><strong>Higher US yields may limit the upside of the metal.<\/strong><\/li>\n<\/ul>\n<p>\u00a0<br \/>The XAU\/USD is finding traction in Friday&#8217;s session, capitalising on mixed S&amp;P PMIs and a weakening US Dollar. The pair, commonly recognised as the price of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/markets\/commodities\/metals\/gold\">gold<\/a> in US dollars, is exchanging hands, trading towards $2,000 and seeing 0.30% gains.\u00a0<\/p>\n<p>In early November, economic activity within the US private sector displayed slight growth, as indicated by the S&amp;P Global Composite PMI, which maintained its position at 50.7. However, the Manufacturing PMI experienced a decline, falling to 49.4 from 50.0 in the same period, placing it in contraction territory. On the other hand, the Services PMI saw a modest improvement, rising to 50.8 from 50.6. Notably, employment in the US service and manufacturing sectors decreased in November for the first time since mid-2020, influenced by sluggish demand and elevated costs.\u00a0<\/p>\n<p>As a reaction, markets seem to be weighing the weakening of the manufacturing sector, boosting dovish bets on the Federal Reserve (Fed), which may explain the\u00a0weakening of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">US dollar<\/a>. However, US Treasury yields are rising and may limit the upside momentum of the yellow metal. The 2-year rate rose to 4.95% while the 5 and 10-year yields to 4.50% and 4.48%.\u00a0<\/p>\n<p>Considering that the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Fed<\/a> remains data-dependent, the US will report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Gross Domestic Product<\/a> (GDP) revisions from Q3 next week as well as Personal Consumption Expenditures (PCE) figures from October, which will likely impact the USD\u2019s price dynamics.\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2 class=\"fxs_headline_medium\">XAU\/USD levels to watch<\/h2>\n<p>Evaluating the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\">chart<\/a>, the Relative Strength Index (RSI) is positioned near overbought conditions, manifesting a dominant buying momentum but a potential reversal. In addition, the Moving Average Convergence Divergence (MACD) shows a positive trend with its rising green bars, indicating augmenting bullish momentum.\u00a0<\/p>\n<p>Contributing to the consolidated bullish narrative is the position of the XAU\/USD relative to its Simple Moving Averages (SMAs). Positioned above the 20, 100, and 200-day SMAs, it advances the narrative of bullish control in the broader trend.\u00a0<\/p>\n<p>Support Levels: $1,970 (20-day SMA),$1,940 (200-day SMA), $1,930 (100-day SMA).<br \/>Resistance Levels: $2,015, $2,030, $2,050.<\/p>\n<h2 class=\"fxs_headline_medium\">XAU\/USD daily chart<\/h2>\n<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The XAU\/USD sees a boost, ascending to the $2000 level.\u00a0 \u00a0 The US Dollar weakened after mixed S&amp;P PMIs. Higher US yields may limit the upside of the metal. \u00a0The XAU\/USD is finding traction in Friday&#8217;s session, capitalising on mixed S&amp;P PMIs and a weakening US Dollar. The pair, commonly recognised as the price [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,255,250,350,252,247,253,249,256,254,485],"class_list":["post-200403","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-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\/200403","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=200403"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/200403\/revisions"}],"predecessor-version":[{"id":200405,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/200403\/revisions\/200405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/10114"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=200403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=200403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=200403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}