Gold Under Pressure as Hawkish Fed Stifles CTA Upside
Gold remains under pressure as markets price in a more aggressive Federal Reserve tightening path, capping the upside for commodity trading advisors, according to TD Securities.
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Gold is facing headwinds as traders anticipate a more hawkish Federal Reserve, making the precious metal less attractive.
In a note, TD Securities analysts Ryan McKay and Bart Melek pointed out that this environment is limiting the potential upside for Commodity Trading Advisors (CTAs) active in gold markets.
The analysts noted that the hawkish Fed trajectory is suppressing gold prices and capping CTA gains.
Source: FXStreet Forex News