- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD continues bleed lower under the weight of the broad Dollar – TDS
Gold Price Forecast: XAU/USD continues bleed lower under the weight of the broad Dollar – TDS
Gold price prints a fresh five-week low amid strength in the US Dollar. Economists at TD Securities analyze XAU/USD outlook.
Gold bulls will need discretionary traders to deploy their capital hoard
Under the hood, the broadening consensus for a higher-for-longer scenario in rates has catalyzed notable CTA liquidations over the past weeks, underscoring the slump in net length highlighted by the CFTC weekly report. That being said, the drip lower from ETF gold liquidations appears to be subsiding over the last few sessions, and we don't expect additional algorithmic selling activity until prices break below the $,1900 mark.
Ultimately, Gold bulls will need discretionary traders to deploy their capital hoard, which places additional attention on upcoming data trends, particularly at a time when leading economic indicators are contrasting sharply from coincident economic indicators, as is historically typical in pre-recessionary periods.
© 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
