#XAUUSD @ 1649.16 Gold Price Forecast: ticks down amid dollar recovery and increasing yields – TDS
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Gold has failed to build on Wednesday’s gains as US yields have reversed back higher. Economists at TD Securities expect the yellow metal to remain under pressure as the US dollar is also in demand.
“After a brief period of relief, recovery in the USD and increasing yields have started to weigh on precious metals once again.”
“The risk of capitulation remains prevalent for the yellow metal moving into October with key labour market and inflation data on tap before the next Fed meeting.”
“With prices trading below pandemic-era levels, a small number of family offices and proprietary trading shops are increasingly feeling the pressure to finally capitulate on their massively bloated and complacent length in gold.”
“The combination of surging real rates and USD, continued outflows from money managers and ETF holdings are all adding pressure on family offices and prop shops to finally capitulate on their length.”
[/s2If]
Join Our Telegram Group
