{"id":3366,"date":"2023-07-18T12:05:03","date_gmt":"2023-07-18T12:05:03","guid":{"rendered":"https:\/\/blog.trive.com\/?p=3366"},"modified":"2023-07-18T12:05:04","modified_gmt":"2023-07-18T12:05:04","slug":"will-all-that-glitters-turn-to-gold-against-a-rusty-greenback","status":"publish","type":"post","link":"https:\/\/blog.trive.com\/de\/handel\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/","title":{"rendered":"Will All That Glitters Turn to Gold Against a Rusty Greenback?"},"content":{"rendered":"<p><em>Piece written by Alexa Smith, Trive Financial Market Analyst<\/em>&nbsp;<\/p>\n\n\n\n<p>The gold spot price (XAUUSD) has bounced due to a weaker USD. Cooling inflation in the US has prompted the likelihood of the Federal Reserve skipping an interest rate hike in July which has stomped on the Greenback\u2019s gains as a result. However, US Retail Sales are expected today, which could apply downside pressure if the release aligns with forecasts.&nbsp;<\/p>\n\n\n\n<p>US Retail Sales are expected to expand slightly from 0.3% to 0.5%, which could prompt a comeback by the US Dollar. However, China\u2019s GDP grew despite falling below forecasts which could boost demand for the commodity. Is China showing signs of economic recovery, or will commodities continue to succumb to heat from dwindling demand and rising interest rates?&nbsp;<\/p>\n\n\n\n<p><strong>Technische Analyse<\/strong>&nbsp;<\/p>\n\n\n\n<p>The gold spot price saw its downward trend come to an end on the 4H Chart due to a weaker US Dollar, establishing major support at $1893.76 per ounce. As the spot price edges further away from the 50-day moving average, the $1980.67 per ounce major resistance may act as a pivot point for the sustenance of the upward trend if a breakdown of the $1964.56 per ounce resistance occurs.&nbsp;<\/p>\n\n\n\n<p>However, if the current $1964.56 per ounce resistance level holds, the $1947.87 per ounce support at the 23.60% Fibonacci Retracement may pose a barrier to further downside possibilities.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"609\" src=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-21-1024x609.png\" alt=\"\" class=\"wp-image-3367\" srcset=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-21-1024x609.png 1024w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-21-300x178.png 300w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-21-768x457.png 768w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-21-18x12.png 18w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-21.png 1439w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Zusammenfassung<\/strong>&nbsp;<\/p>\n\n\n\n<p>The gold spot price is gaining upward momentum, with the $1964.56 per ounce resistance posing a barrier towards the $1980.67 per ounce major resistance. However, the $1964.56 per ounce resistance could hold, which may encourage a pullback towards the $1947.87 per ounce support at the 23.60% Fibonacci Retracement.&nbsp;<\/p>\n\n\n\n<p>Sources: TradingView, Reuters&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>Piece written by Alexa Smith, Trive Financial Market Analyst&nbsp; The gold spot price (XAUUSD) has bounced due to a weaker USD. Cooling inflation in the US has prompted the likelihood of the Federal Reserve skipping an interest rate hike in July which has stomped on the Greenback\u2019s gains as a result. However, US Retail Sales [&hellip;]<\/p>","protected":false},"author":15,"featured_media":2756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will All That Glitters Turn to Gold Against a Rusty Greenback? - Trive Blog<\/title>\n<meta name=\"description\" content=\"The gold spot price has bounced due to a weaker USD.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.trive.com\/de\/handel\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will All That Glitters Turn to Gold Against a Rusty Greenback?\" \/>\n<meta property=\"og:description\" content=\"The gold spot price has bounced due to a weaker USD.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.trive.com\/de\/handel\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/\" \/>\n<meta property=\"og:site_name\" content=\"Trive Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-18T12:05:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-18T12:05:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/THUMB-Gold.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CONNECT TRIVE\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Will All That Glitters Turn to Gold Against a Rusty Greenback?\" \/>\n<meta name=\"twitter:description\" content=\"The gold spot price has bounced due to a weaker USD.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/THUMB-Gold.png\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"CONNECT TRIVE\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 Minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.trive.com\/trading\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/\"},\"author\":{\"name\":\"CONNECT TRIVE\",\"@id\":\"https:\/\/blog.trive.com\/#\/schema\/person\/1b50e17681b87a48acedbf0270821e31\"},\"headline\":\"Will All That Glitters Turn to Gold Against a Rusty Greenback?\",\"datePublished\":\"2023-07-18T12:05:03+00:00\",\"dateModified\":\"2023-07-18T12:05:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/\"},\"wordCount\":287,\"publisher\":{\"@id\":\"https:\/\/blog.trive.com\/#organization\"},\"articleSection\":[\"Trading\"],\"inLanguage\":\"de-DE\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.trive.com\/trading\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/\",\"url\":\"https:\/\/blog.trive.com\/trading\/will-all-that-glitters-turn-to-gold-against-a-rusty-greenback\/\",\"name\":\"Will All That Glitters Turn to Gold Against a Rusty Greenback? 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