Gold: Prices boosted - TDS
|According to analysts at TD Securities, recent weakness in US employment data gave a further boost to gold as interest rate markets are now pricing nearly 80% probability of a Fed cut in July.
Key Quotes
“With pricing getting extremely dovish, along with the recent round of CTA buying wrapping up and a risk on appetite after Mexico avoided tariffs, this mornings pullback in yellow metal seems warranted in the near term, although any downside should be fairly contained. While the recently accumulated CTA length in gold remains safe above $1300/oz.”
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.