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Gold Prices Stuck in Downtrend

Gold Prices Stuck in Downtrend

2013-09-05 14:30:00
David Rodriguez, Head of Product
Share:
ssi_GOLD_body_Picture_18.png, Gold Prices Stuck in Downtrend

GoldForex speculators remain fairly neutral Gold prices versus the US Dollar, and relatively choppy price action leaves the year-long downtrend intact.

Trade Implications – Gold: Last week we cited a build in forex crowd selling as a key reason on why Gold may outperform versus the US Dollar, but we’ve failed to see real follow-through on positions or price. We’ll wait for further clarification in positions before staking out a stronger trading bias.

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

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