Never miss a story from Abdullah AlAmoudi

Subscribe to recieve updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Abdullah AlAmoudi

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Gold

Long-GoldTrade Ticks Below 80%

Spot Gold: Retail trader data shows 79.9% of traders are net-long with the ratio of traders long to short at 3.96 to 1. The number of traders net-long is 0.9% lower than yesterday and 5.9% higher from last week, while the number of traders net-short is 2.9% higher than yesterday and 9.2% lower from last week.

Gold Trades with Mixed Bias

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.

--- Written by Abdullah AlAmoudi, DailyFX Research