Economists at TD Securities expect Gold price to trend higher toward new all-time records after the US inflation report came in line with expectations.

No surprises from the inflation report

“With no surprises from the inflation report, the countdown towards new all-time highs in Gold markets continues.”

“The gravitational pull in Gold markets should continue to support higher prices over the coming months.”

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