Gold price dropped below $2000 on a report by the Institute for Supply Management (ISM), showing that manufacturing activity in the US improved. However, prices jumped compared to last month’s data, sparking speculation that the Federal Reserve (Fed) will tighten monetary conditions next Wednesday. The precious metal is trading between $1981.77 and $19823.50 at the time of writing .
The XAU\/USD reacted downwards, down 0.11% in the early New York session. US Treasury bond yields increased, with the 10-year benchmark note rate yielding 3.513%. The US Dollar Index (DXY) is climbing 0.33%, up at 102.009, courtesy of elevated US Treasury bond yields.
The Advanced Gross Domestic Product (GDP) for April showed that the economy is slowing down, but the Core PCE, the Fed\u2019s preferred gauge for inflation, stood at around 4.6% for the second straight month. An 88.9% chance is seen that the Fed will raise rates by 25 bps to 5.00% 5.25%.
The US economic agenda will feature the JOLTs Job Openings report and Factory Orders on Tuesday, and the Federal Reserve monetary policy decision will be highlighted on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold price dropped below $2000 on a report by the Institute for Supply Management (ISM), showing that manufacturing activity in the US improved. However, prices jumped compared to last month’s data, sparking speculation that the Federal Reserve (Fed) will tighten monetary conditions next Wednesday. The precious metal is trading between $1981.77 and $19823.50 at the …<\/p>\n","protected":false},"author":13,"featured_media":77716,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[194,6874,9796,6834],"class_list":["post-83468","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gdp","tag-gold","tag-jolts-job-openings","tag-pmi"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=83468"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83468\/revisions"}],"predecessor-version":[{"id":83476,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83468\/revisions\/83476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/77716"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=83468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=83468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=83468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}