Gold Selling Intensifies Ahead of Fed Meeting

Gold prices continue to face pressure as commodity trading advisors (CTAs) accelerate their selling ahead of the upcoming Federal Reserve meeting.

According to TD Securities analysts Ryan McKay and Bart Melek, this selling is intensifying with gold prices nearing levels that could trigger net-short positions for funds.

However, they argue that the impact should be relatively modest given the renewed dollar-debasement theme, strong central bank purchases, and renewed ETF inflows.

The analysts view near-term weakness in gold as a potential buying opportunity to accumulate for longer-term upside.