Gold Price Forecast: XAU/USD trending to recent high would not be a big surprise – TDS

Economists at TD Securities analyze Gold’s outlook after a weak Nonfarm Payrolls report on Friday.

The Fed is likely done hiking

The 150K October US payrolls print, which was below the 180K market consensus, along with last month's downward revision, higher unemployment and moderating earnings will all be interpreted as meaning that the Fed is likely done hiking.

The Gold market will also think that rates along the curve will ease, which is all positive for Gold.

It would not be a big surprise to see Gold trend to recent highs.