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.”
Author

Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

















