Economists at TD Securities expect Gold price to reach higher levels.

A new bull market in Gold may have just kicked off

“XAU/USD's drift higher after the strong US payrolls report underscores a rise in participation for the yellow metal.” 

“Ongoing banking stress and the debt ceiling debacle continue to generate headwinds for the USD, especially as the global growth outlook dusts off last year’s stagflationary conditions.” 

“Overall, the data continue to support our view that a new bull market in Gold may have just kicked off.”