{"id":11121,"date":"2022-06-01T04:28:33","date_gmt":"2022-06-01T04:28:33","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=11121"},"modified":"2022-06-01T04:30:58","modified_gmt":"2022-06-01T04:30:58","slug":"ahead-of-the-manufacturing-pmi-xau-usd-is-expected-to-fall-further-to-about-1820","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/ahead-of-the-manufacturing-pmi-xau-usd-is-expected-to-fall-further-to-about-1820\/","title":{"rendered":"Ahead of the Manufacturing PMI, XAU\/USD is expected to fall"},"content":{"rendered":"

Ahead of the Manufacturing PMI, XAU\/USD is expected to fall\u00a0<\/strong><\/h1>\n

In the New York session, the gold price (XAU\/USD<\/strong><\/a>) broke down from its prior consolidation in a $1,846.20-1,864.16 range. The precious metal has been very volatile as investors prepare for the Federal Reserve (Fed) to increase the scope of its aggressive stance in June.<\/p>\n

Inflationary forces in the US economy have wreaked havoc on the Federal Reserve and the US government. On Tuesday, US President Joe Biden and Federal Reserve Chairman Jerome Powell held a meeting to discuss strategies to rein down surging inflation. Whatever steps the Fed takes to alleviate price pressures, one thing is certain: the liquidity absorption programme will be tightened even further, and gold prices will remain on pins and needles.<\/p>\n

Meanwhile, the US dollar index is consolidating above 101.70, and after a fall, it is likely to see initiative buying. Today’s day will be dominated by the ISM Manufacturing PMI, which is expected to be lower at 54.5, compared to the previous print of 55.4. On the hourly scale, a negative breach of the Symmetrical Triangle resulted in a volatility expansion, which brought gold prices sharply lower. The precious metal’s downfall will find a cushion around roughly $1,820.00. At $1,846.00 and $1,850.00, respectively, declining 20- and 50-period Exponential Moving Averages (EMAs) suggest additional downside. The Relative Strength Index (RSI) (14) has also switched to a bearish range of 20.00-40.00, adding to the downside filters.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ahead of the Manufacturing PMI, XAU\/USD is expected to fall\u00a0 In the New York session, the gold price (XAU\/USD) broke down from its prior consolidation in a $1,846.20-1,864.16 range. The precious metal has been very volatile as investors prepare for the Federal Reserve (Fed) to increase the scope of its aggressive stance in June. Inflationary<\/p>\n... 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":[38,272,297,187,173,158,165,55,52,66,97,201],"yoast_head":"\r\nAhead of the Manufacturing PMI, XAU\/USD is expected to fall<\/title>\r\n<meta name=\"description\" content=\"In the New York session, the gold price (XAU\/USD) broke down from its prior consolidation in a $1,846.20-1,864.16 range.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/ahead-of-the-manufacturing-pmi-xau-usd-is-expected-to-fall-further-to-about-1820\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Ahead of the Manufacturing PMI, XAU\/USD is expected to fall\" \/>\r\n<meta property=\"og:description\" content=\"In the New York session, the gold price 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