Gold climbed amid the rising geopolitical crises. Strategists at TD Securities analyze the yellow metal’s outlook.
XAU/USD needs more instability to continue its race higher
With the yellow metal trading at $1,980, there would need to be more instability such as a broadening of the conflict to the broader Middle East for the rally to continue.
It is likely that Gold may trend lower, given high rates for longer and a firm USD.
See – Gold Price Forecast: XAU/USD could chalk up some additional gains if Middle East conflict widens – Commerzbank
Source: https://www.fxstreet.com/news/gold-price-forecast-xau-usd-may-trend-lower-given-high-rates-for-longer-and-a-firm-usd-tds-202310230731