Market sentiment evaluation:Dealer confidence stays excessive in gold, silver and different metals, sugge
Market sentiment evaluation:
- Dealer confidence stays excessive in gold, silver and different metals, suggesting additional positive aspects for XAU/USD, XAG/USD and XPT/USD as soon as the current bout of profit-taking is over.
- In the meantime, the US Greenback (DXY) continues to slip, bolstering steel costs.
Merchants nonetheless assured about gold, silver, platinum, copper and iron ore
Merchants stay assured of additional positive aspects in treasured metals comparable to gold, silver and platinum, in addition to base metals like copper and iron ore, suggesting that their costs may but transfer larger nonetheless regardless of some profit-taking after gold reached a file excessive and silver a seven-year excessive.
US Gold Value Chart, Each day Timeframe (January 1 – July 28, 2020)
| Change in | Longs | Shorts | OI |
| Each day | -9% | -6% | -8% |
| Weekly | 6% | 8% | 7% |
Chart by IG (You may click on on it for a bigger picture)
In the meantime, the US Greenback (DXY) continues to slip, including to the attraction of the valuable and base metals.
On this webinar, I appeared on the tendencies within the main foreign money, commodity and inventory markets, on the forward-looking knowledge on the financial calendar this week, on the IG Consumer Sentiment web page on the DailyFX web site, and on the IG Consumer Sentiment reviews that accompany it. You may also like to take a look at the DailyFX Buying and selling World Markets Decoded podcasts.
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Really helpful by Martin Essex, MSTA
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— Written by Martin Essex, Analyst and Editor
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