Net-Long Gold Positions Fall by 13% Since Last Week
Markets

Net-Long Gold Positions Fall by 13% Since Last Week

DailyFX.com -

Net-Long Gold Positions Fall by 13% Since Last Week

Spot Gold: Retail trader data shows 71.0% of traders are net-long with the ratio of traders long to short at 2.45 to 1. The number of traders net-long is 6.2% lower than yesterday and 13.1% lower from last week, while the number of traders net-short is 8.4% lower than yesterday and 1.6% higher 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 more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.

--- Written by Dylan Jusino, DailyFX Research

original source

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

Learn forex trading with a free practice account and trading charts from IG .

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.

Other Topics

Gold

Latest Markets Videos