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Gold seen with upside asymmetry as CTAs eye higher trading range
TD Securities points to support from long-end Treasury efforts and a Fed posture that could look past higher energy prices, even as 2027 rate-hike pricing keeps expectations cautious.
TD Securities analysts Ryan McKay and Bart Melek said gold and broader precious metals are trading in a higher range that could encourage another wave of buying from commodity trading advisors as the market moves into next week, according to FXStreet.
In their scenario analysis, the team highlighted upside asymmetry for gold, citing Treasury efforts focused on the long end of the curve and a Federal Reserve approach that is willing to look past higher energy prices.
The notes also flag caution: pricing for potential rate hikes as far out as 2027 remains a constraint, even as recent precious-metal flows have slowed.
FXStreet also notes gold extending gains into Friday, with traders looking for a retest of the $4,600 resistance area, described as the top of the last six months trading range.
Latest closeGold $4,432.00 ▲1.6%