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Gold holds support as Fed hike outlook questioned by TD Securities
TD Securities said precious metals positioning remains resilient even as the Fed faced questions after a more hawkish Jackson Hole speech.
TD Securities’ Ryan McKay and Bart Melek said positioning in gold remains resilient despite a more hawkish Jackson Hole speech from Fed Chair Warsh, with the firm citing support from dollar devaluation concerns and uncertainty around the timing of future Fed hikes.
They cautioned that the recent rally could be premature given lingering inflation concerns and a market tilt toward renewed hike pricing for 2027, but said they do not expect material downside.
The FXStreet note around the same market environment said gold slipped back toward nearly three-week lows just above $4,300 per troy ounce on Tuesday, with a dollar rebound and higher US Treasury yields weighing on the metal even as Middle East tensions persist.
Separately, the piece highlighted broader market moves, including global sovereign bonds selling off at the start of a new month and UK yields taking the biggest hit, as gold investors weigh rate expectations.
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