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  • 🇺🇸 CB Consumer Confidence (JUL) Actual: 129.1 Expected: 123.9 Previous: 128.9 https://www.dailyfx.com/economic-calendar#2021-07-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.24%, while traders in Wall Street are at opposite extremes with 74.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/quIfTqIUg8
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 0.19% Oil - US Crude: -0.09% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Wx9svtAsnx
  • Heads Up:🇺🇸 CB Consumer Confidence (JUL) due at 14:00 GMT (15min) Expected: 123.9 Previous: 127.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.24% France 40: -0.29% FTSE 100: -0.37% Wall Street: -0.40% Germany 30: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/IoQew5Ric8
  • IMF Update - Fault Lines Widen in The Global Recovery.#IMF #WEO @DailyFXTeam https://t.co/jORA0dkjdm
  • 🇺🇸 House Price Index MoM (MAY) Actual: 1.7% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-07-27
  • Heads Up:🇺🇸 House Price Index MoM (MAY) due at 13:00 GMT (15min) Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-07-27
  • 🇺🇸 Durable Goods Orders Ex Transp MoM (JUN) Actual: 0.3% Expected: 0.8% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-07-27
  • 🇺🇸 Durable Goods Orders MoM (JUN) Actual: 0.8% Expected: 2.1% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2021-07-27
Gold Price Forecast to Rally Further on Trader Sentiment

Gold Price Forecast to Rally Further on Trader Sentiment

David Rodriguez, Head of Product
Gold Price Forecast to Rally Further on Trader Sentiment

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

Spot Gold: Retail trader data shows 77.5% of traders are net-long with the ratio of traders long to short at 3.44 to 1. The number of traders net-long is 4.9% lower than yesterday and 18.4% lower from last week, while the number of traders net-short is 3.8% lower than yesterday and 33.1% higher 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. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Spot Gold price trend may soon reverse higher despite the fact traders remain net-long.

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

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