Gold Price Forecast: XAU/USD may trend lower given high rates for longer and a firm USD – TDS

Market news

23 October 2023

Gold Price Forecast: XAU/USD may trend lower given high rates for longer and a firm USD – TDS

Gold climbed amid the rising geopolitical crises. Strategists at TD Securities analyze the yellow metal’s outlook.

XAU/USD needs more instability to continue its race higher

With the yellow metal trading at $1,980, there would need to be more instability such as a broadening of the conflict to the broader Middle East for the rally to continue.

It is likely that Gold may trend lower, given high rates for longer and a firm USD.

See – Gold Price Forecast: XAU/USD could chalk up some additional gains if Middle East conflict widens – Commerzbank

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