Gold moved into $2,000 territory in response to rising geopolitical risks. Strategists at TD Securities analyze the yellow metal’s outlook.
Fed set to pivot to a less restrictive stance
Provided the conflict does not spread into key Oil producing, the Fed’s higher-for-longer narrative should see some of the risk premium associated with Gold unwind over the next few weeks.
We see the yellow metal move sustainably into $2,100 territory as the Fed pivots to a less restrictive stance, the official sector keeps buying and the USD weakens.