Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Gold Prices in Position for Continued Weakness

Gold Prices in Position for Continued Weakness

David Rodriguez, Head of Product

Why and how do we use the SSI in trading? View our video and download the free indicator here

Gold– Retail FX traders remain steadily long Gold versus the US Dollar, and a contrarian view of crowd sentiment favors continued weakness. It’s worth noting that positions have moderated somewhat since last week as the precious metal bounced off of recent lows. Yet we will need to see a substantive shift towards crowd XAU/USD-selling in order to call for a meaningful bounce in gold prices.

See next currency section: EURUSD - Euro Forecast to Continue Rallying versus US Dollar

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES