Never miss a story from Martin Essex

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Martin Essex

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Gold price, news and analysis:

  • Retail trader positioning data show that 82% of traders are net-long gold while only 18% are net-short.
  • A contrarian view of crowd sentiment suggests that the outlook is therefore bearish.

Bearish signal for gold price

Retail traders are heavily net-long gold, according to the latest positioning data. At DailyFX, we typically take a contrarian view of crowd sentiment and that means the outlook for the gold price is bearish.

Latest gold price sentiment data.

From a fundamental perspective, gold is off its near-term highs on a firm US Dollar, jitters ahead of an important speech by Federal Reserve Chair Jerome Powell at the Economic Club of New York later Wednesday and the upcoming meeting of US President Donald Trump and Chinese President Xi Jinping at the G20 meeting that begins Friday in Argentina.

Gold Price Chart, 30-Minute Timeframe (November 13-28, 2018)

Latest gold price chart.

Chart by IG

Technically too the outlook is not too positive, although the gold price has stabilized Wednesday after its falls Tuesday.

More to read:

How to Trade Gold: Top Gold Trading Strategies and Tips

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex