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 Likely to Remain in Downtrend

Gold Prices Likely to Remain in Downtrend

David Rodriguez, Head of Product
ssi_GOLD_body_Picture_14.png, Gold Prices Likely to Remain in Downtrend

GoldRetail FX crowds remain long Gold against the US Dollar, but the lack of conviction or volatility suggests that Gold prices could remain mostly range-bound.

Trade Implications – Gold: Several weeks ago I wrote that sharp Gold price declines alongside the similarly-fast-falling Australian Dollar warned of major moves in the S&P 500. Since then it seems as though gold has faded to the background as traders look to much bigger volatility in other markets.

Our retail sentiment-based positioning indicator shows crowds remain modestly net-long XAUUSD, and that in itself leaves us in favor of continued weakness. But given a finite sum of available trading margin, I won’t lie when I say I think there are more attractive trades elsewhere.

--- 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