- Gold Price Forecast: XAU/USD could drop into the low $1,800s – TDS
Market news
29 September 2023
Gold Price Forecast: XAU/USD could drop into the low $1,800s – TDS
Gold is suffering. XAU/USD fell as much as 0.9% on Thursday to just $1,860 following three previous sessions of declines. Strategists at TD Securities analyze the yellow metal’s outlook.
Gold to recover and surge to the $2,100s in the first half of next year
Given positioning, technical and energy price pressures, it would not be surprising to see Gold drop into the low $1,800s if inflation moves higher and economic data remains firm. The upcoming core PCE deflator may be a catalyst for downside.
However, we expect Gold to recover and surge to the $2,100s in the first half of next year, as the Fed pivots to a more dovish policy and physical buying remains strong.
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