'Don't Stand In Front Of Gold's Runaway Train': TD Securities Adjusts Long Target To $1,590

From kitco.com

There is still momentum behind gold’s massive rally, which pushed prices above the $1,500 an ounce for the first time since 2013, said TD Securities. Throughout the year, TD Securities has adjusted its long gold targets to the upside, expecting prices to rise long-term. The bank’s last adjustment was in June, targeting $1,485 an ounce. “The evolution of this trade has seen us adjust the target higher in anticipation of Fed cuts and sharply lower real rates once before,” TD Securities strategists wrote on Tuesday. After the rally boosted prices to fresh six-year highs, the strategists upped the long gold ... (full story)