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  • A big day for $Gold Gold spent > than nine months in this bearish channel, building as a bull flag. At the time: - Bitcoin was below $12k - Ethereum was below $400 - Doge was worth about 1/3rd of 1 cent The only true constant is change https://t.co/igOIe9axdf https://t.co/4tzQQzdB0P
  • 🇺🇸 Overall Net Capital Flows (MAR) Actual: $146.4B Previous: $73.7B https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇺🇸 Foreign Bond Investment (MAR) Actual: $118.9B Previous: $-65.5B https://www.dailyfx.com/economic-calendar#2021-05-17
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.31% France 40: 0.25% Germany 30: 0.16% Wall Street: -0.01% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2O0aGnwxiF
  • Heads Up:🇺🇸 Overall Net Capital Flows (MAR) due at 20:00 GMT (15min) Previous: $72.6B https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇺🇸 Foreign Bond Investment (MAR) due at 20:00 GMT (15min) Previous: $-65.5B https://www.dailyfx.com/economic-calendar#2021-05-17
  • USD/JPY continues to pullback from the monthly high (109.79) to largely mirror the recent weakness in longer-dated US Treasury yields. Get your market update from @DavidJSong here:https://t.co/fv1jjcufMX https://t.co/RQrkxYSsG7
  • 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
Gold Forecast Points to Further Losses

Gold Forecast Points to Further Losses

David Rodriguez, Head of Product
Gold Forecast Points to Further Losses

Why and how do we use IG Client Sentiment in trading? See our guide.

Spot Gold: Retail trader data shows 78.0% of traders are net-long with the ratio of traders long to short at 3.55 to 1. The number of traders net-long is 3.2% higher than yesterday and 3.6% higher from last week, while the number of traders net-short is 15.3% higher than yesterday and 1.7% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.

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

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