Gold made new highs as yields plummet to the zero-bound and equities come under pressure once again. Equity sell-off may liquidate gold positions to generate liquidity, in the opinion of analysts at TD Securities. XAU/USD trades at 1683.76. Key quotes “The persistent equity sell-off could see money managers liquidate gold to generate liquidity in the near term. Notwithstanding near term rushes to liquidity, positioning is becoming stickier at higher levels as further rate cuts globally offer fundamental backing, suggesting the precious metals rally is here to stay.” “An explosion at Anglo American Platinum converter plant has caused the company to issue a force majeure and reduce guidance by 3.3-3.8m oz for 2020, offering supply side support for the industrial precious metals which had come under pressure. With that said, CTA selling in platinum could come to halt, with prices above $903/oz signaling a flip of bearish signals.” 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 OPEC+ failed to agree on extension of existing output cuts – Reuters FX Street 2 years Gold made new highs as yields plummet to the zero-bound and equities come under pressure once again. Equity sell-off may liquidate gold positions to generate liquidity, in the opinion of analysts at TD Securities. XAU/USD trades at 1683.76. Key quotes “The persistent equity sell-off could see money managers liquidate gold to generate liquidity in the near term. Notwithstanding near term rushes to liquidity, positioning is becoming stickier at higher levels as further rate cuts globally offer fundamental backing, suggesting the precious metals rally is here to stay.” “An explosion at Anglo American Platinum converter plant has caused the company to… 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.
