VOT Research Desk
For the first time in four months, gold surpassed $1,800. However, experts at TD Securities predict the yellow metal’s buying desire to wane.
Following yesterday’s rapid rise that catalyzed trend follower short covering, CTA trend followers are expected to begin adding shorts again this session.
Positioning risks in gold are no longer weighted to the upside, and we are seeing the first signs of purchasing exhaustion, as a rebound above $1,830 only signals to moderate CTA buying from present positioning levels.
