Gold Price Bearish with More Long Traders
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Gold Price Bearish with More Long Traders

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Gold Price Bearish with More Long Traders

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Spot Gold: Retail trader data shows 71.9% of traders are net-long with the ratio of traders long to short at 2.56 to 1. The number of traders net-long is 2.9% lower than yesterday and 27.0% higher from last week, while the number of traders net-short is 2.1% lower than yesterday and 6.7% lower from last week.

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 less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.

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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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