Gold Price Forecast: XAU/USD to head towards new all-time highs – TDS
Source Fxstreet
Gold prices are near all-time highs. Strategists at TD Securities analyze the yellow metal’s outlook.
Balance of risks in Gold prices tilted to the upside
While US data remains strong, the Fed can use the trends in core PCE to justify the start of rate cuts. The Fed wants to engineer a soft landing, which allows it to emphasize disinflation over growth.
A cutting cycle should eventually attract discretionary trader capital, which should support Gold towards new all-time highs.
CTA trend followers still hold substantial dry-powder to deploy, physical market buying activity has remained strong, and China is buying gold at a fast clip – all of which tilt the balance of risks in Gold prices to the upside, hot data notwithstanding.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold Price Forecast: XAU/USD edges higher above $4,100 ahead of delayed US September NFP reportGold price (XAU/USD) attracts some buyers to around $4,110 during the early Asian session on Thursday. The precious metal gains momentum amid the cautious mood and uncertainty over the US economy. Traders will closely monitor the US September Nonfarm Payrolls (NFP) later on Thursday.
Gold price (XAU/USD) attracts some buyers to around $4,110 during the early Asian session on Thursday. The precious metal gains momentum amid the cautious mood and uncertainty over the US economy. Traders will closely monitor the US September Nonfarm Payrolls (NFP) later on Thursday.
