Gold Market
CTAs have reversed recent gold buying, but discretionary investors are providing support, according to TD Securities. The bank expects any near-term weakness to be limited and to offer buying opportunities.
Gold initially dropped on the Fed's first rate hike in over three years but quickly surged the next day, suggesting the pattern of selling on rate-hike fears may be fading.
Gold and silver prices have stabilised slightly after recent declines, with analysts pointing to oversold conditions and key support levels holding ahead of this week's FOMC meeting.
Gold trades near $4,300, well below last month's peak, as the Fed prepares a likely rate hike and the US dollar rallies. Market awaits Wednesday's decision.
Gold’s weekly parabolic long trend, confirmed in mid-August, is showing signs of fatigue after three consecutive down weeks. The FOMC meeting and inflation data may decide its fate.
Gold retreated from its highest level since early June as hawkish FOMC minutes and US‑Iran tensions lifted the dollar. Falling bond yields may cap the downside.
Gold climbed sharply on Wednesday, breaching $4,480 as US Treasury buybacks pushed yields lower, even as Fed minutes revealed three officials dissented in favour of a rate hike.