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Further Gold Price Declines Seem Likely

Further Gold Price Declines Seem Likely

David Rodriguez, Head of Product
ssi_GOLD_body_Picture_4.png, Further Gold Price Declines Seem Likely

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GoldRetail forex traders continue buying aggressively into Gold price weakness, acting as contrarian signal that the precious metal may continue lower.

Trade Implications – Gold: As we wrote last week, “crowds have remained steadily long Gold prices since the precious metal traded below $1350 on October 28, and we anticipate continued drops until we see a significant shift in sentiment.As long as crowds continue buying, we’ll favor further declines.

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

ssi_GOLD_body_Picture_20.png, Further Gold Price Declines Seem Likely

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

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