Spot Gold: Retail Dealer Knowledge reveals 66% of Merchants are Internet-Lengthy
Spot Gold: Retail dealer information reveals 66.1% of merchants are net-long with the ratio of merchants lengthy to quick at 1.95 to 1. The variety of merchants net-long is 5.0% greater than yesterday and 18.3% greater from final week, whereas the variety of merchants net-short is 0.2% decrease than yesterday and a pair of.2% decrease from final week.
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Spot Gold: Sentiment suggests Gold costs might fall
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests Spot Gold costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger Spot Gold-bearish contrarian buying and selling bias.
–Written by Tammy Da Costa, DailyFX Analysis