Gold Price Forecast:: XAU/USD will continue to be under pressure – TDS Gold XAUUSD InterestRate Fed Banks
Gold price made a U-turn in the second half of the week and dropped toward $1,950. Economists at TD Securities analyze the yellow metal’s outlook.The concern that the US central bank may well be forced to continue on its tightening cycle, as shown by the dots, convinced investors to reduce long exposure and to acquire new shorts as it become apparent that a July hike was a done deal.
Since data continues to be firm and other central banks continue to tighten, Gold will continue to be under pressure, with only a material weakening of economic conditions being a catalyst for a material move higher.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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