Gold Rally Capped by Rate Risks – TD Securities
TD Securities' Bart Melek notes gold rebounded on dip buying and short covering after key technical support held, but the rally faces headwinds from rate risks.
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According to TD Securities' strategist Bart Melek, gold prices have recovered as dip buyers and short covering emerged after important technical support levels held firm.
However, the upside for the precious metal remains limited by interest rate risks, which continue to weigh on the outlook. Prices are trading near recent levels, with the rally capped by macro headwinds.
Source: FXStreet Forex News