News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Gold Price Tumbles – How Much Further to Go?

Gold Price Tumbles – How Much Further to Go?

David Rodriguez, Head of Product
Gold Price Tumbles – How Much Further to Go?

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

Spot Gold: Retail trader data shows 83.6% of traders are net-long with the ratio of traders long to short at 5.1 to 1. The number of traders net-long is 0.7% higher than yesterday and 19.1% higher from last week, while the number of traders net-short is 2.8% lower than yesterday and 4.8% 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias.

See next article in this week’s report: AUDUSD - Australian Dollar May be a Sell versus US Dollar

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

DISCLOSURES