According to analysts at TD Securities, global growth fears are lending a hand to precious metals prices as demand for safe haven assets continues to grow, but the market is watching for potential implications on US growth with US PMIs on the docket.
Key Quotes
“At the same time, with market pricing for a cut in October still hovering near the 50% mark, gold and precious metals could still have some room to the upside should those probabilities converge to a cut as we expect. That being said, we expect little flow from CTAs in the complex for the time being.”
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