70.2% OF TRADERS ARE NET-LONG
Spot Gold: Retail dealer knowledge reveals 70.2% of merchants are net-long with the ratio of merchants lengthy to quick at 2.36 to 1. The variety of merchants net-long is three.three% larger than yesterday and 20.6% larger from final week, whereas the variety of merchants net-short is 2.zero% decrease than yesterday and 14.5% decrease from final week.
For extra in-depth evaluation, try the Q1 2019 Forecast for Gold
GOLD SENTIMENT SUGGESTS A BEARISH TRADING BIAS
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Spot Gold costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger Spot Gold-bearish contrarian buying and selling bias.
— Written by Nancy Pakbaz, CFA, DailyFX Analysis
Comply with Nancy on Twitter @NancyPakbazFX