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Gold Prices Likely to Continue Higher Until this Changes

Gold Prices Likely to Continue Higher Until this Changes

David Rodriguez, Head of Product

Why and how do we use the SSI in trading? View our video and download the free indicator here

Gold– Retail forex speculators continue to sell into Gold price rallies, and a contrarian view of ‘crowd’ sentiment leaves us in favor of doing the opposite and buying. Indeed, we have consistently called for XAU/USD gains through the past five weeks of sentiment coverage.

We see no reason to abandon our long-standing trading bias, and only a sharp sentiment swing in the opposite direction would negate our calls for gold price strength.

See next currency section: DAX - German DAX Likely Continue Recovery Rally

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

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

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