Gold Prices Poised for Breakout as TD Securities Sees Upside Asymmetry

TD Securities has identified an upside asymmetry in gold prices heading into next week, suggesting that the potential for gains outweighs the risk of losses at current levels.

The note from TD Securities points to a combination of technical and macro factors supporting gold prices. While the exact catalysts are not detailed, the term 'upside asymmetry' typically implies that the potential for price increases is significant.

Ongoing geopolitical tensions and central bank buying continue to provide a floor under gold prices, limiting downside risk. TD Securities' outlook aligns with a broader view that gold's downside is limited, while any positive catalyst could trigger a sharp move higher.

The current setup may offer an opportunity for investors who have been waiting for a clearer entry point. However, it is essential to recognize that such calls are time-sensitive and subject to change based on incoming data.