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Failure Leaves Gold Prices Vulnerable to Major Declines

By , Quantitative Strategist
15 May 2014 15:05 GMT
Failure Leaves Gold Prices Vulnerable to Major Declines

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GOLD Forex trading crowds remain consistently long Gold prices in US Dollar terms, and a contrarian view of herd sentiment has left us mostly in favor of XAUUSD declines.

Trade Implications GOLDSeveral weeks ago we wrote that Gold may have set a lasting low as crowds sold aggressively into rallies. And yet the precious metal has failed to rally onto fresh highs, and our Senior Strategist writes that continued failure at these levels warns of further declines.

See next currency section: EURJPY - Major Shift Points to Euro Weakness versus Yen

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Failure Leaves Gold Prices Vulnerable to Major Declines

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15 May 2014 15:05 GMT