Gold IG Client Sentiment: Our data shows traders are now at their least net-long Gold since Aug 19 when Gold traded near 1,780.78.

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Number of traders net-short has increased by 17.84% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Gold

BULLISH

64.25%

35.75%

2.38% Daily

-8.95% Weekly

8.69% Daily

17.84% Weekly

4.55% Daily

-0.90% Weekly

Gold: Retail trader data shows 64.25% of traders are net-long with the ratio of traders long to short at 1.80 to 1. Our data shows traders are now at their least net-long Gold since Aug 19 when Gold traded near 1,780.78. The number of traders net-long is 2.38% higher than yesterday and 8.95% lower from last week, while the number of traders net-short is 8.69% higher than yesterday and 17.84% higher from last week.

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

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Gold price trend may soon reverse higher despite the fact traders remain net-long.

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