Published On: Fri, Jan 12th, 2018

Bullish Gold-Seniment May Disappoint Short Traders

Bullish Gold-Seniment May Disappoint Short Traders

Spot Gold: Retail trader data shows 65.0% of are net-long with the ratio of long to short at 1.86 to 1. The number of net-long is 5.3% lower than and 2.3% lower from last , while the number of traders net-short is 4.0% lower than yesterday and 1.8% lower from last .

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.

— Written by Dylan Jusino, DailyFX Research

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