Gold IG Client Sentiment: Our data shows traders are now at their least net-long Gold since Aug 09 when Gold traded near 1,730.91.
Number of traders net-short has decreased by 4.33% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Gold: Retail trader data shows 69.77% of traders are net-long with the ratio of traders long to short at 2.31 to 1. Our data shows traders are now at their least net-long Gold since Aug 09 when Gold traded near 1,730.91. The number of traders net-long is 2.34% lower than yesterday and 11.74% lower from last week, while the number of traders net-short is 9.72% higher than yesterday and 4.33% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall.
Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Gold price trend may soon reverse higher despite the fact traders remain net-long.
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