Gold Market
TD Securities says gold is outperforming other precious metals despite rising energy prices and Fed hike expectations. Near-term CTA selling is possible below key levels, but longer-term support remains robust.
Eldorado Gold has produced the first copper-gold concentrate at its Skouries project in Greece, with commercial production targeted for the fourth quarter of 2026.
TD Securities says gold has held firm despite higher Fed rate hike odds. The next big test is US inflation data, with structural demand still underpinning the metal.
Gold rose more than 1% on Wednesday, supported by the US Treasury's announcement of a bond buyback for September 10, even as the US Dollar clawed back some losses and yields edged higher.
Gold prices fell on Wednesday as intensifying conflict in the Middle East pushed crude oil higher, stoking inflation fears and raising expectations of a US interest rate hike.
Gold and silver gained internationally as the dollar softened. Traders are watching US inflation data for clues on the Fed's next move.
Chinese mainland benchmarks edged higher on Tuesday, supported by gold, agriculture and energy shares, while technology stocks dragged. Hong Kong fell on Middle East concerns.
Gold’s price range of 4,230–4,697 remains intact. Friday’s US CPI may shift prices within that zone, but the bigger forces are the Fed’s expected rate peak, oil normalisation and the dollar debasement trade.
Gold prices wavered after a surprisingly strong US jobs report, but analysts see the pullback as temporary amid rising debt, bond yields, and geopolitical tensions.