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- Gold Price Forecast: XAU/USD may well move into $2,100+ territory – TDS
Gold Price Forecast: XAU/USD may well move into $2,100+ territory – TDS
Gold has been very sensitive to upside and downside economic data surprises. When data starts to come in below expectations, XAU/USD could surge above $2,100, economists at TD Securities report.
Mean reverting nature of economic surprises points to $2,100+ Gold
The cyclicity and mean reverting nature of economic data surprises, along with the Fed's restrictive rate policies, should work in tandem to precipitate a downdrift in US economic surprise indices.
If the Fed Fund futures reaction remains constant, dropping on negative data surprises as it rose in response to positive surprises, the resulting lower yield along the forward curve should see Gold rally. We project that this, along with technical factors, could help the yellow metal move into $2,100+ territory into late-2023.
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