- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD to suffer downside price pressures – TDS
Gold Price Forecast: XAU/USD to suffer downside price pressures – TDS
Gold price extends the previous sell-off. In the opinion of strategists at TD Securities, Fed Chair Powell's hawkish speech is expected to weigh on the yellow metal.
Fed will continue to follow a hawkish trajectory well into 2023
“Growing expectations that the US Federal Reserve will continue to follow a hawkish trajectory well into 2023 prompted money managers to aggressively reduce gold length. The lack of upside potential, as the Fed signaled significantly higher rates for longer, also convinced investors to cut long exposure.”
“Considering Jerome Powell's hawkish tone being communicated at the Jackson Hole Economic Policy Symposium, we see continued reduction in gold length and downside price pressures.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
