16.11.2016 - TD Securities: ‘Gold Is Down But Not Out’
Gold is “down but not out,” says TD Securities. After an initial spike higher a week ago when it became apparent Donald Trump would be the next U.S. president, the precious metal has since turned lower. Prices fell as the market factored in ideas that U.S. fiscal stimulus will lift inflation expectations, move yields higher and boost the dollar. “Higher yields along with a sharply higher USD are usually a very poisonous environment for gold,” TDS says, saying the metal could drop below $1,200 an ounce as the Federal Reserve prepares to hike interest rates. However, “while there are big downside risks for now, the future looks better for gold,” TDS says........................................Full Article: Source
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