Number of traders net-short has decreased by 16.42% from last week

Gold: retail trader data shows 50.43% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since 01 March when gold traded near 2,082.75, price has moved 4.24% higher since then.

The number of traders net-long is 11.14% higher than yesterday, and 7.51% higher from last week, while the number of traders net-short is 6.18% upper than yesterday and 16.42% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long, suggesting gold prices may continue to fall.

Our data shows traders are now net-long gold for the first time since 01 March 2024, when gold traded near 2,082.75. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger gold-bearish contrarian trading bias.

Gold client positioning chart

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *