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- Gold price to surge above $1,900 fueled by a dovish Fed - TDS
Gold price to surge above $1,900 fueled by a dovish Fed - TDS
Gold price to surge above $1,900 fueled by a dovish Fed - TDS
FXStreet notes that after a challenging three months, gold is again starting to find its mojo and may soon attempt to challenge key resistance at just above $1,800/oz. Inflation "head fake" and dovish fed may be a manna for XAU/USD, according to strategists at TD Securities.
“It would not be a surprise to see gold move modestly north of $1,800/oz in the not too distant future, as it looks as though the curve overreacted back in March when yields jumped, and it appears that a steady-state has been reached for a time before US10s move toward two percent by the end of the year.”
“Before the yellow metal shoots through key resistance levels and rallies another $120/oz to our year-end target, the market will need to have a higher level of confidence that the rise in rates won't be re-energized by more favorable economic data, and that the Fed will prevent rates from rising to the point where they can adversely impact financial conditions.”
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