{"id":104806,"date":"2020-09-16T21:26:28","date_gmt":"2020-09-16T20:26:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=104806"},"modified":"2020-09-16T21:26:28","modified_gmt":"2020-09-16T20:26:28","slug":"104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\/","title":{"rendered":"Spot Gold rebounds off 50-day SMA, gaining ground pre- the Fed"},"content":{"rendered":"<p>Gold slips back from $1,950.90 after two days of gains<br \/>\nRisk on trading on Wall Street amid tech recovery and pre-ECB optimism<br \/>\nLockdown measures easing in Tokyo, \u00a0Tiktok update and no negative Chinese data lifts mood.<br \/>\nEconomic calendar is sparse ahead of the ECB.<\/p>\n<p>Update: Could Fed clarification over allowing inflation to overrun boost Gold? Technically, the picture has improved after XAU\/USD rebounded off the 50-day Simple Moving Average and momentum turned positive.<\/p>\n<p>Gold declines to $1,945.80 in the Asian session on Thursday. After rising to a 2 week high on Wednesday, gold performed a U-turn from $1,950.90. The mood in the market is broadly upbeat, however a lack of drivers and pre-ECB nerves could explain XAU\/USD\u2019s recent pullback.<\/p>\n<p><strong>Risk-on pauses<\/strong><\/p>\n<p>Traders await fresh impetus to continue the reversal. Risk barometer, the S&amp;P 500 Futures advance 0.30% \u00a0to 3,404 at the time of writing,. recovering from a one-month low yesterday as European Central Bank (ECB) \u00a0optimism and TikTok owners \u00a0request to not sell the whole company to the US picked up. Upbeat US JOLTS Job Openings data and Chinese inflation numbers which at least didn\u2019t disappoint are adding to the markets optimism.<br \/>\nAdditionally, news that Tokyo is easing lockdown conditions added to the upbeat mood.<\/p>\n<p>In addition to risk on trading, a softer greenback for the first time in a week is buoying gold.<\/p>\n<p>US \u2013 Sino tensions simmer away in the background in addition to Brexit deal uncertainty and US rescue package issues weigh on sentiment. Buyers are looking for a firm message from the ECB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold slips back from $1,950.90 after two days of gains Risk on trading on Wall Street amid tech recovery and pre-ECB optimism Lockdown measures easing in Tokyo, \u00a0Tiktok update and no negative Chinese data lifts mood. Economic calendar is sparse ahead of the ECB. Update: Could Fed clarification over allowing inflation to overrun boost Gold? [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4838,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[2044,3128],"class_list":{"0":"post-104806","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-gold","9":"tag-xau-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spot Gold rebounds off 50-day SMA, gaining ground pre- the Fed - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Spot Gold rebounds off 50-day SMA, gaining ground pre- the Fed\",\"datePublished\":\"2020-09-16T20:26:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\\\/\"},\"wordCount\":266,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100623-gbp-eur-biggest-2-day-rise.jpg\",\"keywords\":[\"gold\",\"XAU\\\/USD\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104326-spot-gold-rebounds-off-50-day-sma-gaining-ground-pre-the-fed\\\/\",\"name\":\"Spot Gold rebounds off 50-day SMA, gaining ground pre- the Fed - 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