Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


Gold Price Declines Show No Signs of Slowing

By , Quantitative Strategist
16 May 2013 16:00 GMT
ssi_gold_body_Picture_15.png, Gold Price Declines Show No Signs of Slowing

GoldRetail forex traders have bought aggressively into Gold price weakness against the US Dollar (ticker: USDOLLAR). We think gold has further room to fall.

Trade Implications – Gold: Last week we highlighted the fact that traders were very marginally short Gold against the USD—a clear break with the virtually non-stop buying seen from 2012 gold peaks near $1800.

The noteworthy shift left us cautiously in favor of short-term strength, but even at the time we highlighted that long-term studies favor continued Gold price declines.

Recent crowd XAUUSD buying only confirms our bearish bias, and indeed it remains attractive to sell short-term bounces.

--- Written by David Rodriguez, Quantitative Strategist for

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at

Facebook at

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

16 May 2013 16:00 GMT