Gold: Long Positions Rise as Price Continues to Weaken
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Gold: Long Positions Rise as Price Continues to Weaken

DailyFX.com -

Net-Long Positions Climb to 87%

Spot Gold: Retail trader data shows 87.0% of traders are net-long with the ratio of traders long to short at 6.71 to 1. The number of traders net-long is 3.5% higher than yesterday and 1.1% higher from last week, while the number of traders net-short is 3.6% lower than yesterday and 9.2% higher from last week.

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Gold Sentiment Signals a Bearish Bias

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is more net-long than yesterday and last week. The combination of current sentiment and recent changes gives us a bearish Spot Gold trading bias.

--- Written by Jake Schoenleb, DailyFX Research

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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