Number of traders net-short has increased by 24.22% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 49.91% | 50.09% |
2.00% Daily -16.11% Weekly |
5.00% Daily 24.22% Weekly |
3.48% Daily 0.19% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 4% | 5% | 4% |
| Weekly | -18% | 22% | -2% |
Gold: Retail trader data shows 49.91% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since May 20 when Gold traded near 2,427.18, price has moved 2.07% lower since then. The number of traders net-long is 2.00% higher than yesterday and 16.11% lower from last week, while the number of traders net-short is 5.00% higher than yesterday and 24.22% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Gold prices may continue to rise.
Our data shows traders are now net-short Gold for the first time since May 20, 2024 when Gold traded near 2,427.18. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Gold-bullish contrarian trading bias.
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