Gold investors extend longs while hedging risks, TD Securities says
Money managers sharply increased long gold exposure as soft US employment data, modest inflation and expectations that the Fed will not hike this year weighed on the dollar.
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TD Securities strategists note that money managers sharply increased their long gold exposure. The shift comes as modest inflation, soft US employment data and expectations that the Federal Reserve will keep rates on hold this year weigh on the US dollar.
The positioning reflects a more constructive gold view, but investors are also hedging risks. The report highlights that the move into longs is accompanied by some caution rather than a one-way bet.
Source: FXStreet Forex News