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Gold:79% of Traders Are Net-Long

Gold:79% of Traders Are Net-Long

2019-03-08 18:20:00
Nancy Pakbaz, CFA, Markets Writer
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Gold

NUMBER OF NET-LONG TRADERS ARE 15% HIGHER FROM LAST WEEK

Spot Gold: Retail trader data shows 79.0% of traders are net-long with the ratio of traders long to short at 3.77 to 1. The number of traders net-long is 0.2% lower than yesterday and 15.0% higher from last week, while the number of traders net-short is 8.1% lower than yesterday and 23.6% lower from last week.

GOLD SENTIMENT CONTINUES TO SUGGEST A BEARISH TRADING 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

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--- Written by Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX

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

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