Gold: Positioning washout risks and CTA selling – TD Securities
News brief
TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market is increasingly constrained as energy importers and Middle Eastern producers face shocks that erode official sector demand. TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market is increasingly constrained as energy importers and Middle Eastern producers face shocks that erode official sector demand.…
Why traders care
For traders, this matters because commodity headlines often feed directly into inflation expectations, sector rotation and currency pricing.
What to watch next
- Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.
TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market is increasingly constrained as energy importers and Middle Eastern producers face shocks that erode official sector demand. TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market is increasingly constrained as energy importers and Middle Eastern producers face shocks that erode official sector demand.… TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market is increasingly constrained as energy importers and Middle Eastern producers face shocks that erode official sector demand. TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market is increasingly constrained as energy importers and Middle Eastern producers face shocks that erode official sector demand. With institutional and retail participation already elevated, TD’s simulations point to CTA selling in Gold over the coming week as algorithms capitulate on long positions for the first time since February 2024.Bull trend faces CTA liquidation risk"Energy importers, particularly in Asia… For traders, this matters because commodity headlines often feed directly into inflation expectations, sector rotation and currency pricing. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.
