Gold prices (XAU/USD) show resilience amid the suspension of China’s purchasing program and uncertainty from the Federal Reserve, TD Securities analysts say.
Gold may see a moderate sell-off below $2,325/oz
“Gold continues to show strength despite uncertainty from the Fed. The news that China suspended its reserve purchasing program significantly affected the yellow metal, while strong US data added more uncertainty to investors’ appetite. macroeconomic investors, as the timing of rate cuts again comes into question.”
“Looking ahead, the Yellow Metal could see some marginal selling from Commodity Trading Advisors (CTA) below $2,325/oz, however, there is still a notable margin of safety before the next big selling trigger.” CTA around $2,202/oz.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
