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.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Gold Set Up for Reversal As Sentiment Shifts

Gold Set Up for Reversal As Sentiment Shifts

Dylan Jusino, Contributor

Share:

Spot Gold: Retail trader data shows 62.3% of traders are net-long with the ratio of traders long to short at 1.65 to 1. The number of traders net-long is 0.1% lower than yesterday and 1.9% lower from last week, while the number of traders net-short is 2.4% higher than yesterday and 2.5% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot 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 Spot Gold price trend may soon reverse higher despite the fact traders remain net-long.

--- Written by Dylan Jusino, DailyFX Research

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

DISCLOSURES