Gold price may drift lower in the short-term but will eventually recover – TD Securities
Gold price is likely to drift lower in the short-term if economic data stays firm and inflation persists but this is unlikely to last into the autumn, according to analysts at investment bank TD Securities.
“..once we start seeing disappointment or negative data surprises, investors may start getting interested again into the autumn,” says Bart Melek, Head of Commodity Strategy at TD Securities.
“Once Western demand is combined with China uptake, it is quite likely that the yellow metal will move above recent record levels. Under this scenario, $2,500 target would be reasonable,” adds Melek.
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