GOLD TRADER SENTIMENT – XAU/USD PRICE CHART
The summary shows traders are net-long Gold- the ratio stands at +4.55 (82% of traders are long) – bearishreading. Long positions are 2.81% higher than yesterday and 9.15% higher from last week. Short positions are 2.01% lower than yesterday and 9.58% lower 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. Traders are further net-long than yesterday and last week, and the combination of current positioning and recent changes gives us a stronger Gold-bearish contrarian trading bias from a sentiment standpoint.
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