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  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.78% Gold: 0.64% Oil - US Crude: -0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3YlXMEWLKe
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  • 🇺🇸 Michigan 5 Year Inflation Expectations Final (JUN) Actual: 2.8% Previous: 3% https://www.dailyfx.com/economic-calendar#2021-06-25
  • 🇺🇸 Michigan Inflation Expectations Final (JUN) Actual: 4.2% Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-06-25
  • 🇺🇸 Michigan Consumer Sentiment Final (JUN) Actual: 85.5 Expected: 86.5 Previous: 82.9 https://www.dailyfx.com/economic-calendar#2021-06-25
  • USD extending dip post in-line Core PCE, nearing 200DMA (91.47) - Euro at fresh highs for the week (200DMA = 1.1998)
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.32%, while traders in AUD/JPY are at opposite extremes with 68.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qo6QSXtJ3m
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.03% Gold: 0.69% Oil - US Crude: 0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VatqhgPncw
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Final (JUN) due at 14:00 GMT (15min) Previous: 3% https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇺🇸 Michigan Inflation Expectations Final (JUN) due at 14:00 GMT (15min) Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-06-25
Gold Prices May have Turned the Corner

Gold Prices May have Turned the Corner

David Rodriguez, Head of Product
Gold Prices May have Turned the Corner

View Real-Time SSI Updates via the FXCM Trading Station Desktop

See a video on why we use the Speculative Sentiment Index as a contrarian indicator in our trading

Gold – Retail FX traders have recently turned net-short Gold prices, and a contrarian view of crowd sentiment suggests XAU/USD may continue to trade higher. Short-term targets are now seen at multi-month highs near $1170. A break higher would help confirm an important shift in the near-term Gold price trend.

See next currency section: EURUSD - Euro Likely to Test Key Near-term Resistance

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

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