Gold: Rally continues to be fueled – TDS

Strategists at TD Securities continue to see a set-up for a multi-year bull market being cemented, as investors will continue to seek gold's warm embrace as real global rates become entrenched in negative territory.

Key quotes

“The rally in gold continues to be fueled by additional policy interventions, with the Fed announcing new steps to provide up to $2.3T in loans to munis and companies.” 

“Nearly 90% of momentum signals are pointing long in gold and, with current prices distant from the nearest CTA triggers, the risk of another round of CTA liquidations has subsided.”