Gold remains anchored near $1,850. In the view of strategists at TD Securities the bias is still skewed to the downside under the weight of a hawkish Federal Reserve.

Risk assets attempt to stage a relief rally

“While trend followers are forced to buy their length back at higher prices, this flow is likely being met with a reversal in safe-haven length as risk assets attempt to stage a relief rally.” 

“Looking forward, higher rates should again force prices and long exposure in gold lower.”