Gold IG Client Sentiment: Our data shows traders are now at their least net-long Gold since Feb 18 when Gold traded near 1,896.09.
Number of traders net-short has increased by 37.09% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
Gold: Retail trader data shows 59.59% of traders are net-long with the ratio of traders long to short at 1.47 to 1. Our data shows traders are now at their least net-long Gold since Feb 18 when Gold traded near 1,896.09. The number of traders net-long is 4.43% higher than yesterday and 4.52% lower from last week, while the number of traders net-short is 13.71% higher than yesterday and 37.09% higher 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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