The price of gold continued to fall, falling below the key support level of $4,300 per ounce. However, TD Securities believes that this precious metal has limited downside because the current market environment is conducive to the price of gold once again breaking through $5,000 per ounce. Ryan McKay, senior commodity strategist at TD Securities, pointed out that although gold continues to face the adverse effects of rising interest rates, potential investment demand is still strong. “The price of gold is about to usher in the next round of increases. Despite the Federal Reserve's interest rate hike, gold has shown strong resilience. As demand for gold from investors and central banks grows again, gold is expected to hit the price of more than $5,000 per ounce again in 2027.” he added.

The price of gold continued to fall, falling below the key support level of $4,300 per ounce. However, TD Securities believes that this precious metal has limited downside because the current market environment is conducive to the price of gold once again breaking through $5,000 per ounce. Ryan McKay, senior commodity strategist at TD Securities, pointed out that although gold continues to face the adverse effects of rising interest rates, potential investment demand is still strong. “The price of gold is about to usher in the next round of increases. Despite the Federal Reserve's interest rate hike, gold has shown strong resilience. As demand for gold from investors and central banks grows again, gold is expected to hit the price of more than $5,000 per ounce again in 2027.” he added.