<\/p>\n
\n Share:<\/span><\/p>\n Gold price retreats below the $2,000 mark for the first time since November 24, extending its losses to 0.50%, spurred by solid data from the United States (US). The XAU\/USD<\/a> is trading at $1996 after hitting a daily high of $2034.00.<\/p>\n XAU\/USD\u2019s decline follows the latest US employment report showing the labor market is improving in contrast to recent data revealed during the week. The US Bureau of Labor Statistics (BLS) showed the economy created 199K jobs, exceeding forecasts of 180K, while the Unemployment Rate<\/a> ticked down from 3.9%\u00a0 to 3.7%.<\/p>\n That spurred a rally in the Greenback (USD), as shown by the US Dollar Index<\/a> (DXY), remaining firm 0.40% above its opening price of 104.03, making dollar-denominated commodities<\/a> more expensive. The US 10-year benchmark note yields 4.237%, eight basis points higher than Thursday\u2019s close.<\/p>\n Additional data from the University of Michigan (UoM) showed that American households remain more optimistic about the economy while seeing an improvement in the battle against inflation as they downward revised inflation expectations.<\/p>\n All that said, traders paired slashed rate-cut bets on the Federal Reserve\u2019s for the following year. Data from the Chicago Board of Trade (CBOT) suggests investors expect 118 basis points of rate cuts for 2024, below last week\u2019s 140 bps. This means market participants see the Fed as less dovish than the previous week.<\/p>\n Aside from this, traders focus on the following week’s US inflation report and the Federal Open Market Committee (FOMC) meeting. Inflation is expected to stay at 3.1% in twelve months, and monthly inflation will likely remain at 0%. The Core Consumer Price Index (CPI) is forecasted to stay at 4% unchanged YoY and 0.3% in monthly readings. Regarding the Fed, traders expect the US central bank to keep rates intact.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Share: Gold slips below $2,000 down 0.50% spurred by elevated US bond yields as a consequence of solid data. US Bureau of Labor Statistics (BLS) revealed the Nonfarm payrolls surpassed estimates, while the Unemployment Rate ticks down to 3.7%. University of Michigan (UoM) data shows increased optimism among American households, inflation expectations downward revised. Federal […]<\/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":[201,248,251,246,257,2321,484,255,250,350,252,247,253,249,256,254,485],"class_list":["post-209280","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\/209280","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=209280"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209280\/revisions"}],"predecessor-version":[{"id":209281,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209280\/revisions\/209281"}],"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=209280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=209280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=209280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
XAU\/USD\u2019s retreated below $2,000, which could push prices further downwards<\/h2>\n
XAU\/USD Technical Levels<\/h2>\n