{"id":11092,"date":"2022-05-25T04:28:01","date_gmt":"2022-05-25T04:28:01","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=11092"},"modified":"2022-05-25T04:28:01","modified_gmt":"2022-05-25T04:28:01","slug":"on-the-back-of-the-fed-minutes-sellers-of-xau-usd-are-targeting-1848","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/on-the-back-of-the-fed-minutes-sellers-of-xau-usd-are-targeting-1848\/","title":{"rendered":"On the back of the Fed Minutes, sellers of XAU\/USD are targeting $1,848"},"content":{"rendered":"<h1><strong>On the back of the Fed Minutes, sellers of XAU\/USD are targeting $1,848<\/strong><\/h1>\n<p>During Wednesday&#8217;s Asian session, the gold price (XAU\/USD) posts its first daily loss in five days, dropping to an intraday low of roughly $1,860. The recent weakness of the metal could be linked to the US dollar&#8217;s recovery from a monthly low ahead of crucial data and events. However, the US Dollar Index (DXY) is up 0.21 percent after recovering from a four-week low to reclaim the 102.00 level. The market&#8217;s preparations for the US Durable Goods Orders for April, projected at 0.6 percent versus 1.1 percent previously, as well as the Federal Open Market Committee (FOMC) Minutes, could be linked to the risk-negative reports from China and South Korea.<\/p>\n<p>The shooting of three missiles by North Korea, as well as Japan&#8217;s displeasure with it, have added to the market&#8217;s nervousness ahead of today&#8217;s Fed Minutes, and appear to be weighing on the market&#8217;s optimism. The news regarding China&#8217;s COVID lockdowns and their detrimental effects on the world&#8217;s second-largest economy could be on the same line. &#8220;Beijing has kept its COVID quarantine in place for another month, while Shanghai authorities aim to keep most restrictions in place this month before releasing the two-month-old lockdown completely on June 1,&#8221; Bloomberg said.<\/p>\n<p>While the S&amp;P 500 Futures pare early-day gains at 3,955, up 0.40 percent intraday, the US 10-year Treasury yields remain protective around a one-month low, at 2.76 percent at press time. In contrast to the ECB&#8217;s hawkish statements, disappointing US housing statistics and repeated Fedspeak put downward pressure on US Treasury rates and the US Dollar on Tuesday. Gold prices are likely to face the brunt of the US dollar&#8217;s recovery in the future. However, any more bearish FOMC Minutes and\/or negative US data will allow the <a href=\"https:\/\/www.xtrememarkets.com\/mu\/commodities-category\/\"><strong>precious metal<\/strong><\/a> to recover some of its recent losses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the back of the Fed Minutes, sellers of XAU\/USD are targeting $1,848 During Wednesday&#8217;s Asian session, the gold price (XAU\/USD) posts its first daily loss in five days, dropping to an intraday low of roughly $1,860. The recent weakness of the metal could be linked to the US dollar&#8217;s recovery from a monthly low<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/MU\/on-the-back-of-the-fed-minutes-sellers-of-xau-usd-are-targeting-1848\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[38,39,272,297,158,58,52,72,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>On the back of the Fed Minutes, sellers of XAU\/USD are targeting $1,848<\/title>\r\n<meta name=\"description\" content=\"During Wednesday&#039;s Asian session, The gold price posts its first daily loss in five days, dropping to an intraday low of roughly $1,860.\" \/>\r\n<link rel=\"canonical\" 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