Number of traders net-short has increased by 13.70% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 48.27% | 51.73% | -12.04% Daily -9.57% Weekly | 23.25% Daily 13.70% Weekly | 3.25% Daily 1.13% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -5% | 2% | -2% |
| Weekly | -5% | 14% | 3% |
Gold: Retail trader data shows 48.27% of traders are net-long with the ratio of traders short to long at 1.07 to 1. Our data shows traders are now at their least net-long Gold since Apr 05 when Gold traded near 2,020.37. The number of traders net-long is 12.04% lower than yesterday and 9.57% lower from last week, while the number of traders net-short is 23.25% higher than yesterday and 13.70% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Gold prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Gold-bullish contrarian trading bias.
