S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
TD Securities’ Ryan McKay notes that Gold is struggling to recover as renewed tariffs and US-Iran tensions fuel an inflationary impulse and push expectations for a Federal Reserve (Fed) hike into early 2027. He highlights that CTA’s (Commodity Trading Advisors) see Gold nearing an immediate selling trigger around $4,470/oz, with positioning likely to turn more negative in flat or declining markets.
CTA triggers cap Gold recovery
“Precious metals continue to be hit by the inflationary impulse, as President Trump proposes new tariffs on major trading partners, while the US and Iran have traded another round of attacks.”
“As inflation concerns continue to see expectations of a Fed hike priced in by at least early-2027, gold is finding it hard to muster any serious recovery.”
“For CTAs, the yellow [metal] is nearing an immediate selling trigger near $4470/oz, and is still likely to see additional selling in a flat tape or down tape.”
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