TD says macro positioning data in gold appear to be flashing warning signs

TD says macro positioning data in gold appear to be flashing warning signs - downside risk ...Middle East

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TD is wary of gold, saying that their data on macro positioning data in gold appears to be flashing warning signs. model suggests gold positioning is statistically consistent with 370bps of Fed rate cuts, a fairly extreme level Commodity trading advisors (CTAs) are "max long" gold, and positioning in Shanghai has reverted to record highsdearth of visible shorts in the market is also a concernpositioning cues suggest the market may be overly positioned for bullish gold narratives at the moment TD says that fundamental factors for gold remain strong, but also say that narratives often end up chasing prices rather than driving them: risk is of washout in gold positioning, potentially triggered

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Last updated : 22 August 2024 clock 02:16 AM

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TD says macro positioning data in gold appear to be flashing warning signs - downside risk ...Middle East

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