The pain trade in Gold markets could still extend further, but the first signs of buying exhaustion are emerging, economists at TD Securities report.
Gold buying exhaustion in sight The pain trade for Gold shorts could still extend a touch further, but we now estimate that prices will need to break well above the $2,000 range to spark large-scale algorithmic long acquisitions.
Barring a severe escalation, this points to buying exhaustion, opening the door to potential algo selling below the $1,945 mark. Still, more meaningful selling activity from other cohorts will be required before algos reacquire a chunk of their shorts south of $1,875, suggesting prices may not easily recapture recent lows.
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