Gold’s downside risk mean it’s a buy at $2,300, platinum prices have found a floor, copper headed lower still – TD Securities’ Ghali

Gold’s downside risk mean it’s a buy at $2,300, platinum prices have found a floor, copper headed lower still – TD Securities’ Ghali

From kitco.com

The gold market is overbought according to several key metrics, and while platinum prices may be carving out a bottom, the same cannot be said for copper, according to Daniel Ghali, senior commodity strategist at TD Securities. “I absolutely think there's risk,” Ghali said of $2,500 gold in an interview with BNN Bloomberg late Wednesday afternoon. “The setup today in gold markets, any way you slice, it is just not the same as it was a few months ago.” Ghali said that heading into 2024, there was a historic dislocation between money-manager positioning in gold and the market’s rate expectations. “That's ... (full story)

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