Gold Price Forecast: XAUUSD set to dive below the $1,850 level – TDS
Gold Price consolidates in the $1,860 area. But strategists at TD Securities expect the yellow metal to dip below the $1,850 mark.
Silver to see some relief
“Systematic trend followers are joining into the liquidation vacuum in gold. Finally, trend signals have sufficiently deteriorated to catalyze a substantial selling program in gold.”
“With gold prices challenging the psychologically important $1,850/oz range, the additional CTA flow could be sufficient to spark a breakdown in this technical level.”
“CTA short acquisitions in silver are now running out of steam, which should provide some relief from the metal's dramatic underperformance relative to the yellow metal, just as our base metals indicators also point to a potential near-term floor.”
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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.
