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Gold Prices Expected to Fall Further

Gold Prices Expected to Fall Further

2015-08-06 14:55:00
David Rodriguez, Head of Product
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Gold Prices Expected to Fall Further

NEW: View Real-Time SSI Updates via the FXCM Trading Station Desktop

Gold Retail FX traders remain heavily long gold versus the US Dollar and indeed have remained so since the precious metal’s price crossed below $1200 in May. It is perhaps worth noting that positions have actually grown less long since last week; the count of long positions fell 6 percent while short positions are up 9 percent. Yet we would need to see a much larger shift in sentiment before calling for a meaningful reversal.

See next currency section: EURUSD - Euro Outlook Remains Uncertain – What to Watch Next

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

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