Precious Metals supported by global growth fears – TD Securities
|In view of analysts at TD Securities, global growth fears lending a hand to precious metals prices, as demand for safe haven assets continues to grow, but the market is watching for potential implications on US growth.
Key Quotes
“With the market pricing in just about 50% probability of an October cut, precious metals could see a bid in the near-term. In this context, we'll be keeping an eye on core PCE measures, along with a steady stream of fedspeak for the week with several members on the docket.”
“As European manufacturing data disappointed the market, the release of the Chinese manufacturing PMIs over the coming weekend will be another important set of data for base metal traders to chew on, which will provide insights for the path of global growth moving forward. Aside from the Chinese data, any substantial trade headlines or signs of stimulus heading into China's Golden Week and the higher-level trade negotiations will also be major sentiment drivers.”
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