Gold is deeply in the red while central banks are throwing the kitchen sink at this virus, as a dash-for-cash has taken precedence on all else, strategists at TD Securities brief. XAU/USD trades at 1492.66. Key quotes “We can observe how broadly traders and money managers have been afflicted by the need to secure through the week-on-week changes in gold’s dry-powder analysis. “While we cautioned that the bullish precious metals narrative was widespread just a month ago, we have seen gold positioning substantially decline with significantly fewer traders long today, as opposed to a decline in position size for those traders that remain long gold.” “ExFed Chairs Bernanke and Yellen have publicly opined that the Fed should do more — particularly, by expanding their asset purchase program to buy corporate debt, among other measures. Should the Fed announce such measures, this could be a near-term catalyst to drive capital into gold once again.” “Trend followers could be set to target a net-short position in gold should prices close below the $1485/t range.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Russia: CBR to cut 50bps – Rabobank FX Street 2 years Gold is deeply in the red while central banks are throwing the kitchen sink at this virus, as a dash-for-cash has taken precedence on all else, strategists at TD Securities brief. XAU/USD trades at 1492.66. Key quotes “We can observe how broadly traders and money managers have been afflicted by the need to secure through the week-on-week changes in gold's dry-powder analysis. “While we cautioned that the bullish precious metals narrative was widespread just a month ago, we have seen gold positioning substantially decline with significantly fewer traders long today, as opposed to a decline in position size for those… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
