{"id":248240,"date":"2024-02-16T04:58:37","date_gmt":"2024-02-15T23:28:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=248240"},"modified":"2024-02-16T04:58:37","modified_gmt":"2024-02-15T23:28:37","slug":"xau-usd-brights-and-surpasses-2000-amid-mixed-us-economic-data-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xau-usd-brights-and-surpasses-2000-amid-mixed-us-economic-data-crypto-news\/","title":{"rendered":"XAU\/USD brights and surpasses $2000 amid mixed US economic data &#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 climbs 0.61% to $2003.50, buoyed by falling US Treasury yields and uncertain economic indicators.<\/strong><\/li>\n<li><strong>January&#8217;s Retail Sales fall 0.8%, highlighting economic volatility amid poor weather affecting auto and gasoline sales.<\/strong><\/li>\n<li><strong>Fed&#8217;s cautious inflation outlook and lower CPI than forecast weaken the Dollar, boosting gold&#8217;s appeal.<\/strong><\/li>\n<\/ul>\n<p>Gold price recovered some ground on Thursday, as it reclaimed the $2000 mark due to falling US Treasury bond yields. A tranche of mixed US economic data weighed on the Greenback. Therefore, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/markets\/commodities\/metals\/gold\" data-fxs-autoanchor=\"\">XAU\/USD<\/a> posted gains of 0.61%, but as the Asian session begins, it trades at $2003.50.<\/p>\n<h2 class=\"fxs_headline_medium\">Mixed US economic data and lower US Treasury yields boost Gold\u2019s appeal<\/h2>\n<p>The latest data from the United States was mixed. Retail Sales for January saw a decrease of -0.8% month-over-month, falling short of both the previous month&#8217;s figures and the estimated -0.1% contraction. This decline was largely attributed to reduced sales at auto dealerships and gasoline service stations, with stormy weather conditions further dampening sales.<\/p>\n<p>Concurrently, Initial <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\" data-fxs-autoanchor=\"\">Jobless Claims<\/a> for the latest week came at 212K, lower than both the forecasts and the previous week&#8217;s reading of 220K. This comes as a somewhat unexpected development, given that claims were anticipated to increase following announcements of layoffs by several companies.<\/p>\n<p>On Thursday, US Treasury bond yields lost two basis points and finished at 4.236%, while the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\" data-fxs-autoanchor=\"\">US Dollar<\/a> Index (DXY) dropped 0.41% to 104.28.<\/p>\n<p>In the meantime, Federal Reserve Vice-Chairman for Supervision Michael Barr crossed the wires on Wednesday. He said that the path to 2% inflation would be \u2018bumpy\u2019 following the latest US inflation report. On Tuesday, the Consumer Price Index (CPI) came in at 3.1% YoY, below the previous reading of 3.4%, but missed estimates of 2.9%.<\/p>\n<h2 class=\"fxs_headline_medium\">XAU\/USD Price Analysis: Technical outlook<\/h2>\n<p>Gold price is neutral to downward biased, even though the yellow metal trades above the 200-day moving average (DMA). From a price action standpoint, Gold has achieved successive series of lower highs and lows, opening the door for further downside. However, sellers must reclaim the 100-DMA at $1996.01, which could open the door to test the December 13 low of $1973.13, followed by the 200-DMA at $1965.41. Conversely, if buyers push prices above the 50-DMA at $2031.80, Gold could aim towards the February 1 high at $2065.60.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638436357052334884.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Gold climbs 0.61% to $2003.50, buoyed by falling US Treasury yields and uncertain economic indicators. January&#8217;s Retail Sales fall 0.8%, highlighting economic volatility amid poor weather affecting auto and gasoline sales. Fed&#8217;s cautious inflation outlook and lower CPI than forecast weaken the Dollar, boosting gold&#8217;s appeal. Gold price recovered some ground on Thursday, as [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,484,255,250,333,350,252,247,253,249,308,256,254,485],"class_list":["post-248240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gold","tag-gta","tag-looks-rare","tag-macroeconomics","tag-metals","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress","tag-xauusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/248240","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=248240"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/248240\/revisions"}],"predecessor-version":[{"id":248241,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/248240\/revisions\/248241"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/5320"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=248240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=248240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=248240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}