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Gold Price Once Again set to Shine

Gold Price Once Again set to Shine

David Rodriguez, Head of Product
Gold Price Once Again set to Shine

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

XAUUSD – Retail FX traders are once again short Gold prices in US Dollar terms, and a contrarian view of sentiment leaves watching for further near-term XAU/USD strength. This stands in contrast to just a week ago when the opposite was true and we held a bearish trading bias. Indeed, it has been difficult to establish a long-standing position as the precious metal remains in a multi-month long consolidative range.

As long as retail FX traders continue to sell, we will continue to call for further Gold Price strength.

See next currency section:AUDUSD - Australian Dollar Sentiment Points to Gains

--- Written by David Rodriguez, Senior 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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