Number of traders net-short has increased by 50.11% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 43.76% | 56.24% |
7.46% Daily -20.48% Weekly |
13.60% Daily 50.11% Weekly |
10.83% Daily 8.11% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 7% | 14% | 11% |
| Weekly | -20% | 50% | 8% |
Gold: Retail trader data shows 43.76% of traders are net-long with the ratio of traders short to long at 1.29 to 1. Our data shows traders are now at their least net-long Gold since Dec 02 when Gold traded near 2,071.86. The number of traders net-long is 7.46% higher than yesterday and 20.48% lower from last week, while the number of traders net-short is 13.60% higher than yesterday and 50.11% 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.
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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