OctaFX | OctaFX Forex Broker
Open trading account
Back

Precious metals: Silver to underperform gold – TDS

Gold continues to make new highs, touching the $1,700/oz level as equities went limit down overnight, while yields continue to plummet to the 0 bound, and the dollar weakens, strategists at TD Securities inform.

Key quotes

“Prices have now edged off the highs, and near term rushes to liquidity remain a risk.” 

“We note that positioning is becoming stickier at higher levels as further rate cuts globally offer fundamental backing, suggesting the precious metals rally is here to stay.” 

“For silver and the PGMs, the exposure to industrial demand, and lower beta to monetary policy and safe-haven flows should see them underperform the yellow metal. CTAs have been well-positioned for the rallies, and we do not anticipate any major systematic flow on the day.”

 

Wall Street recovers modestly after trading resumes, energy and financials suffer heavy losses

Wall Street's main indexes plummetted after the opening bell and trading got halted for 15 minutes after the S&P 500 lost 7% in a quick fashion. With
Read more Previous

EUR/USD New York Price Forecast: Euro erasing 2019 losses, bulls eying 1.1600 figure

The spot is reversing up sharply from 34-month lows as the market is virtually erasing the 2019 losses in less than a month of trading. There are no signs that
Read more Next
Start livechat