Gold Price Forecast: XAU/USD will move to new highs – TDS
Source Fxstreet
Gold (XAU/USD) consolidates its gains after reaching a fresh 2024-high above $2,080. Strategists at TD Securities analyze the yellow metal’s outlook.
More data weakness needed for takeoff
It is hoped that the combination of lower yields, which are likely to attract discretionary investors into futures and ETFs, along with strong physical markets in China and robust central bank buying, will move Gold to new highs.
We believe that the yellow metal is set to move into $2,300+ territory, once there is more certainty surrounding the timing and magnitude of the pending Fed pivot.
But there will still need to be more evidence that the economy is slowing sufficiently to facilitate a steady drop in inflation before this rally becomes sustainable and moves to our target.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US June CPI Preview: Can Cooling Inflation Open Up Fed Rate Cut Expectations? How Will US Stocks, the Dollar, and Gold React?The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
As of the early Asian trading session on July 13, WTI crude oil ( USOIL) prices surged. Affected by the escalation of the US-Iran conflict over the weekend, the market has re-incorporated
Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.
West Texas Intermediate (WTI) oil price rises after two days of losses, trading around $74.20 during the Asian hours on Monday.
WTI rally takes a timeout amid signs of US-Iran war de-escalationWest Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday.
West Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday.
Related Instrument
