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Gold Price Forecast: The door for some downside in XAU/USD may be finally opening up – TDS

November 20, 2023

NEW YORK (November 20) Gold price hangs near daily low. Economists at TD Securities analyze the yellow metal’s outlook.

Is it time to come to the dark side?

The door for some downside in Gold prices may be finally opening up, as our advanced positioning analytics suggest that upside flows have now peaked. 

We now estimate that without a decisive break north of $2,000, trend follower buying activity will likely grind to a halt. 

A meaningful deterioration in US data may increasingly create headwinds for the bears, but the scope for tactical downside is growing nonetheless.


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