Number of traders net-short has increased by 33.84% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 49.65% | 50.35% |
-4.59% Daily -0.69% Weekly |
17.28% Daily 33.84% Weekly |
5.29% Daily 14.14% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -3% | 13% | 4% |
| Weekly | -2% | 30% | 11% |
Gold: Retail trader data shows 49.65% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Jul 19 when Gold traded near 2,400.62, price has moved 2.63% higher since then. The number of traders net-long is 4.59% lower than yesterday and 0.69% lower from last week, while the number of traders net-short is 17.28% higher than yesterday and 33.84% 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 Jul 19, 2024 when Gold traded near 2,400.62. 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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