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Gold Prices Likely to Remain Range-bound

Gold Prices Likely to Remain Range-bound

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 traders have sold into the recent Gold price bounce versus the US Dollar, and a contrarian view of crowd sentiment suggests the XAU/USD exchange rate could trade higher.

Such a forecast comes with a heavy caveat, however; retail traders will often outperform in choppy and range-bound trading conditions. This fact is relevant because Gold continues to stick to a tight price range, and until this changes the majority of traders may continue to do well buying near range lows and selling near range highs.

See next currency section: DAX - German DAX Forecast to Strengthen Alongside S&P 500

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

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Contact David via Twitter at http://www.twitter.com/DRodriguezFX

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

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