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.
Recommended Articles
Global financial markets are set for a "Super Central Bank Week" this week, as five major central banks, including the Federal Reserve, the European Central Bank, and the Bank of Japan, a
The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.
Bitcoin prices have strengthened again, breaking through $79,000 amid strong bullish sentiment; however, investors should be wary of this week's Federal Reserve interest rate decision.On
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – kicks off the new week on a positive note and reverses a part of Friday's modest decline, though the upside remains capped.
On April 23, Eastern Time, Intel (INTC) reported its latest quarterly earnings results, showing that revenue grew 7% to $13.6 billion and earnings per share was $0.29, beating expectation
Related Instrument
