Precious metals likely to consolidate - TDS

In view of analysts at TD Securities, with little data on the calendar, they are expecting precious metals will likely consolidate as traders digest the dovish Fed in combination with the impressive employment and manufacturing data.

Key Quotes

“With the market pricing cuts, we think continued strength in the US data will keep any precious metal rallies under wraps. On a quiet week, precious metals will likely take their cues from political headlines, equities and the USD.”