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  • Gold continues to climb as US real yields maintain their decline $XAUUSD https://t.co/M8GH93UvoL
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.72% Gold: 1.24% Oil - US Crude: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LEuM2UyMpc
  • Canadian #Dollar Forecast: $USDCAD Seven-Week Plunge Searches Support - https://t.co/XW5aHqivhu https://t.co/rrZtho7V70
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.08%, while traders in Germany 30 are at opposite extremes with 74.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RpXt0c3dDQ
  • US Dollar Index (DXY) steadily trending lower towards yearly low. Feb low up first at 89.68, then 89.20 to follow. Get your $USD market update from @PaulRobinsonFX here:https://t.co/4OvnYANsPE https://t.co/zOWYFvVIdf
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.09% France 40: -0.07% Germany 30: -0.08% Wall Street: -0.41% US 500: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ZUO0U8wkJ9
  • Gold prices have jumped to a fresh three-month-high to start this week. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/fTYcHtD8MX https://t.co/xVQBYr4vCJ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.67%, while traders in Germany 30 are at opposite extremes with 75.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SF4w4toKO5
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.67% Oil - US Crude: 1.41% Gold: 1.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ngyNW7Dyfh
  • Gold Price Forecast: Gold Breaks Bull Flag - Can Buyers Maintain? https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/05/17/Gold-Price-Forecast-Gold-Breaks-Bull-Flag-Can-Buyers-Maintain.html $Gold https://t.co/7Bbm0rDS0G
Gold Prices Remain at Risk of Further Declines

Gold Prices Remain at Risk of Further Declines

David Rodriguez, Head of Product
Gold Prices Remain at Risk of Further Declines

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GOLD Consistent crowd buying has left us steadily in favor of Gold price declines, and indeed a contrarian view of retail trader sentiment calls for further losses.

Trade Implications GOLDRetail FX traders turned net-long gold as it turned sharply lower through early March. Our Senior Strategist notes the precious metal may have set an important low through a cyclical turn window. Yet it would take an important shift in retail FX trader sentiment as well as trading above the April high of $1331 to materially change our trading forecast.

See next currency section: AUDUSD - Australian Dollar Downtrend Intact, We Like Selling

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

Gold Prices Remain at Risk of Further Declines

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