45.93 F
February 27, 2024
PI Global Investments

XAU/USD prone to a material short squeeze – TDS


Gold ended the week lower amid an uncertain outlook on rates. Economists at TD Securities analyze the yellow metal’s outlook.

Fed officials contemplate the start of a cutting cycle

Money managers modestly increased their net Gold exposure despite the strong jobs report that could suggest the Federal Reserve may not be in any hurry to start easing monetary policy. 

Gold investors remain historically underpositioned, and open interest in the yellow metal remains at levels that have preceded substantial rallies. This highlights a set-up for the yellow metal that is ripe with asymmetry and prone to a material short squeeze as Fed officials contemplate the start of a cutting cycle.


Source link

Related posts

Tempest Minerals inks agreement to acquire Elephant gold and base metals project By Proactive Investors


Horizon Minerals welcomes high-grade gold results from Dundas Minerals at Windaya


Gold Medalist Hwang Sunwoo Reflects On Korea’s Historic World Championships


Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.