(Kitco News) – Gold is outperforming other precious metals despite the headwinds of higher energy prices and rising Fed hike expectations, but Commodity Trading Advisors (CTA) and major funds could become sellers if gold breaks key support levels, according to commodity analysts at TD Securities.

In a Thursday note, TD Securities’ Ryan McKay and Bart Melek wrote that while gold has given up some of its recent gains, it continues to outperform the precious complex in relative terms.

“The yellow metal has been able to hold support in the higher range, even as the market grapples with renewed energy upside and the near-term increase in Fed hike probabilities,” they said. “In the near-term, gold will have an elevated sensitivity to…