{"id":24348,"date":"2026-10-27T04:49:26","date_gmt":"2026-10-27T04:49:26","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=24348"},"modified":"2026-10-27T04:49:26","modified_gmt":"2026-10-27T04:49:26","slug":"daily-commentary-490","status":"publish","type":"post","link":"https:\/\/www.maxainforex.com\/th\/daily-commentary-490-20261027\/","title":{"rendered":"XAU\/USD trades with caution as Fed\u2019s policy takes centre stage"},"content":{"rendered":"<ul class=\"wp-block-list has-text-color\" style=\"color: #f40307;\">\n<li><strong>Gold price trades cautiously around $4,000 as Fed\u2019s monetary policy looms.<\/strong><\/li>\n<li><strong>The Fed is expected to hold interest rates steady on Wednesday.<\/strong><\/li>\n<li><strong>A sharp recovery in the US Dollar and Middle East woes continue to keep the Gold price under pressure.<\/strong><\/li>\n<\/ul>\n<p>Gold reflects a subdued performance at around $4,000 in the opening session on Tuesday, as financial markets shift their focus to the Federal Reserve\u2019s (Fed) monetary policy announcement on Wednesday.<\/p>\n<p>Analysts at Royal Bank of Canada expect the Fed to keep policy steady at this week\u2019s meeting, with the \u201cFederal Reserve \u2026 expected to hold the fed funds target range unchanged on Wednesday after hiking for the first time since 2023 in September.\u201d<\/p>\n<p>While the September move marked a resumption of tightening, RBC notes that \u201cFOMC members continue to signal that more hikes will follow, but comments after the last decision suggest a gradual approach.\u201d In terms of the projected path, the bank reiterates that \u201cwe expect two 25-basis-point rate hikes ahead before the end of Q1 2027.\u201d<\/p>\n<p>Meanwhile, several factors including Gulf tensions, and a sharp recovery in the US Dollar are keeping the yellow metal under pressure.<\/p>\n<p>According to TD Securities, the recent \u201ccombination of waning risk appetite amid a tech selloff, slumping spot gold, and geopolitically-driven petroleum complex price spikes\u201d has prompted money managers to \u201caggressively cut their exposure in the yellow metal.\u201d The firm adds that \u201cconcerns that kinetic military activity in the Persian Gulf region may escalate in the not-too-distant future should continue to keep gold and silver under selling pressure,\u201d reinforcing a cautious near-term backdrop for precious metals positioning.<\/p>\n<p>As of writing, the US Dollar Index (DXY), which gauges the Greenback\u2019s value against six major currencies, holds onto two-day gains marginally above 102.00. Technically, a higher US Dollar makes the Gold price an unfavorable risk-reward bet for investors.<\/p>\n<p>This week, investors will also pay close attention to the preliminary Q3 Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) Price Index for September, which are scheduled for Thursday.<\/p>\n<p>According to TD Securities, upcoming US activity data are expected to underscore that the economy \u201cwill likely show a resilient economy that can handle more restriction.\u201d The bank anticipates that \u201cQ3 GDP [will] show robust underlying growth, PCE prices [will] reflect elevated inflation, and ECI [will] report manageable wage growth,\u201d pointing to a still-firm macro backdrop despite tighter financial conditions. In terms of the headline growth figures, TD Securities notes that \u201cGDP growth picked up in Q3 to 2.5% from 2.2% previously with underlying activity remaining robust,\u201d broadly in line with other projections that emphasize solid consumption and investment even as some components, such as net exports and inventories, act as modest drags.<\/p>\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-24349\" src=\"https:\/\/www.maxainasia.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27-1024x430.png\" alt=\"Gold Technical Analysis\" width=\"1024\" height=\"430\" srcset=\"https:\/\/www.maxainforex.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27-1024x430.png 1024w, https:\/\/www.maxainforex.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27-300x126.png 300w, https:\/\/www.maxainforex.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27-768x323.png 768w, https:\/\/www.maxainforex.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27-1536x645.png 1536w, https:\/\/www.maxainforex.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27-18x8.png 18w, https:\/\/www.maxainforex.com\/wp-content\/uploads\/2026\/10\/gold-chart-2026-10-27.png 1702w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n<p>In the daily chart, XAU\/USD trades at $4,006.06, keeping a bearish near-term tone as spot remains below the 9-day exponential moving average (EMA) at $4,066.71. Price action continues to retreat from recent highs, and the Relative Strength Index (14) at 35.01 hovers just above oversold territory, suggesting persistent downside pressure rather than an immediate recovery impulse.<\/p>\n<p>On the topside, initial resistance is defined by the 9-day EMA at $4,066.71, which caps any rebound attempts and acts as the first hurdle for a more meaningful corrective bounce. Looking down, the June 30 low at $3,941.76 is the key support level. A decisive break below $3,941.76 could lead to a fresh downside leg.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold price trades cautiously around $4,000 as Fed\u2019s monetary policy looms. The Fed is expected to hold interest rates steady on Wednesday. A sharp recovery in the US Dollar and Middle East woes continue to keep the Gold price under pressure. Gold reflects a subdued performance at around $4,000 in the opening session on Tuesday, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.maxainforex.com\/th\/daily-commentary-490-20261027\/\" class=\"more-link\">\u0e2d\u0e48\u0e32\u0e19\u0e40\u0e1e\u0e34\u0e48\u0e21\u0e40\u0e15\u0e34\u0e21<span class=\"screen-reader-text\"> &#8220;XAU\/USD trades with caution as Fed\u2019s policy takes centre stage&#8221;<\/span><\/a><\/p>","protected":false},"author":5,"featured_media":17233,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-24348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-commentary"],"_links":{"self":[{"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/posts\/24348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/comments?post=24348"}],"version-history":[{"count":2,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/posts\/24348\/revisions"}],"predecessor-version":[{"id":24351,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/posts\/24348\/revisions\/24351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/media\/17233"}],"wp:attachment":[{"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/media?parent=24348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/categories?post=24348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.maxainforex.com\/th\/wp-json\/wp\/v2\/tags?post=24348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}