TD Research remarks com via eFX.
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- "A major capitulation event may be unfolding in gold...We see evidence that the steepest outflows from broad commodity funds since the Covid-19 crisis may be catalyzing a series of cascading liquidations from various speculative groups. This argues for substantial downside for gold in coming sessions as participants are forced to sell in a vacuum," TD notes.
- "Indiscriminate selling by broad commodity funds has now sufficiently weighed on price action in gold to catalyze a break below a critical threshold for a change in gold's trading regime," TD adds.
