Fed to clear ‘second hurdle for gold worm’: TD Securities


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According to TD Securities, ‘Kisko News) Gold is seeing some positive movements this week and the Federal Reserve’s monetary policy meeting intensified on Wednesday. “We hope the FOMC clears the second hurdle for the gold worm, after the ECB that allowed some space to play out the weak USD narrative. Word on official QE, expansion of the dot plot through 2023 and Are scheduled to send a dovish signal through the president’s press conference. Over time, this will open the door to an expansion in the average maturity of treasury purchases. In this context, we argue that the balance of risks is at a breakout high. Is tilted, “writes TD Securities Commodity Strategist. The strategist further states that gold is backed by higher prices. The equity market is different from the situation last week, gold is feeling the love once again. We argued That recent price action has shown that gold has a supporting position slate, with few weak hands remaining, ”he notes. “If gold traders kept ‘weak hands’, then the equity market has suffered a steep decline last week.”

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