CFTC: Speculators increased their net length in gold - TD Securities
|"Speculators increased their net length in gold ahead of the FOMC meeting and Midterm elections, as the still shaky equities and prospects of gridlock prompted money managers to aggressively cover short positions," TD Securities said in a recently published report reviewing the latest CFTC data.
Key quotes
"Nonetheless, the Fed's affirmation that it will be sticking to its preset hiking path prompted the market to revalue lower the strike level on any potential Powell-put — which ultimately helped the greenback strengthen and challenged gold prices."
"With tail-risks out of the way, we would not be surprised to see gold length resume its downward trajectory for now."
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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.