Gold Price Forecast: XAU/USD continues bleed lower under the weight of the broad Dollar – TDS Gold XAUUSD Banks
prints a fresh five-week low amid strength in the US Dollar. Economists at TD Securities analyze XAU/USD outlook.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.
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.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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