Gold Price Forecast: XAU/USD to trend lower, but no rout – TDS
After hitting $2,031 for the first time in nearly a year, Gold has slid below $2,000. Neverthless, a rout is not expected, economists at TD Securities report.
There is support near $1,953
“While the yellow metal is expected to trend lower, a rout is not expected as the US central bank will be very measured in its signaling and rates are unlikely to go up much from current levels.”
“For now, there is support near $1,953.”
“Before any move above $2,000 becomes sustainable, there will need to be evidence that rates will drop and that the US central bank will allow inflation to stay above a target for a while, but much closer to 2 percent.”
Author
FXStreet Insights Team
FXStreet
The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.
