Gold Price Forecast: XAUUSD to sustain potential additional pain – TDS

Gold has fallen in the last few days. Economists at TD Securities highlight that a significant liquidation event may currently be unfolding.

Sentiment is poor in precious metals

“Sentiment is poor in precious metals, and elevated positioning analytics still argue for potential additional pain for gold bugs.” 

“CTA trend followers have also joined the liquidation party, and with prices now below the bull-market-defining uptrend, a significant liquidation event may currently be unfolding.”