Number of traders net-short has increased by 14.94% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 49.00% | 51.00% |
-8.05% Daily -2.75% Weekly |
26.48% Daily 14.94% Weekly |
6.82% Daily 5.53% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -5% | 12% | 2% |
| Weekly | -2% | 3% | 0% |
Gold: Retail trader data shows 49.00% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Apr 06 when Gold traded near 2,007.65, price has moved 1.58% higher since then. The number of traders net-long is 8.05% lower than yesterday and 2.75% lower from last week, while the number of traders net-short is 26.48% higher than yesterday and 14.94% 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 Apr 06, 2023 04:00 GMT when Gold traded near 2,007.65. 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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