Gold Price Targets: XAU/USD Surges As China Raises The Stakes

GOLD TRADER SENTIMENT (XAU/USD)

(Click on image to enlarge)

Gold Trader Sentiment - XAU/USD Price Chart - GLD Trade Outlook - Technical Forecast

  • A summary of IG Client Sentiment shows traders are net-long Gold - the ratio stands at +1.96 (66.2% of traders are long) – bearish reading
  • Long positions are 6.2% higher than yesterday and 20.4% higher from last week
  • Short positions are 2.1% lower than yesterday and 1.9% 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 & last week, and the combination of current positioning and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias from a sentiment standpoint.
1 2
View single page >> |

Disclaimer: DailyFX, the free news and research website of leading forex and CFD broker FXCM, delivers up-to-date analysis of the ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.