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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 86.94%, while traders in France 40 are at opposite extremes with 71.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/et7VbdfhiC
  • The big #gold sell-off quickly has an important long-term trend test in play; scenarios to consider from both sides of the tape. Get your market update from @PaulRobinsonFX here: https://t.co/rvFMCvEYi2 https://t.co/MY3nHLXfIJ
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  • All 9 Dow Jones sectors ended lower, with 100% of the index’s constituents closing in the red. Energy (-3.77%) financials (-2.98%) and materials (-2.46%) were among the worst performers. https://t.co/AbiZ65bwC9
  • Although the Fed hawkish bias has caused some reflationary position unwinding and anxiety about the outlook for commodities, the fundamental picture for oil has not changed and remains bullish. Get your market update from @DColmanFX here: https://t.co/N5X16b8ljP https://t.co/UA6CfjTLfc
Strategy Video: Gold's Biggest Rally in 9 Months a Trend Spark?

Strategy Video: Gold's Biggest Rally in 9 Months a Trend Spark?

John Kicklighter, Chief Strategist

Talking Points:

• Spot gold rallied over $40 or 3.3 percent Thursday - the biggest advance in 9 months

• Explanations ranged from dollar weakness to a stimulus swell to a financial crisis hedge

• There looks to be little of those fundamental drivers in play, which leaves a speculative breakout

Download and use the Day Change App that I use in today's video for free at FXCMApps.com.

Gold bulls are cheering a strong break from a three-month bear trend and the biggest single-day rally for the metal in nine months. The question is whether this is a one-off or the start of something more. To answer that, we need to look at what is driving the commodity. Explanations for the move ranged from FOMC reaction to financial market hedge. Yet, those fundamental themes weren't playing out in the the markets. This remarkable move in an otherwise calm sea looks more like the massive moves back in April and June of 2013. What happened back then, and does it support the development of a new trend? We focus on gold and its bearings in today's Strategy Video.

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