Our data shows traders are now at their most net-long Gold since Nov 10 when Gold traded near 1,876.36.

Our data shows traders are now at their most net-long Gold since Nov 10 when Gold traded near 1,876.36.

Number of traders net-short has decreased by 24.57% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Gold

BEARISH

88.53%

11.47%

8.35%
Daily

26.72%
Weekly

-3.36%
Daily

-24.57%
Weekly

6.87%
Daily

17.55%
Weekly

Gold: Retail trader data shows 88.53% of traders are net-long with the ratio of traders long to short at 7.72 to 1. Our data shows traders are now at their most net-long Gold since Nov 10 when Gold traded near 1,876.36. The number of traders net-long is 8.35% higher than yesterday and 26.72% higher from last week, while the number of traders net-short is 3.36% lower than yesterday and 24.57% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests 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 Gold-bearish contrarian trading bias.

Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/02/18/GC-IG-Client-Sentiment-0423.html
By: Research

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