News / Technical Analysis / Gold Trading Outlook Mixed as Retail Trader Sentiment Shows Contradictory Signals

Gold Trading Outlook Mixed as Retail Trader Sentiment Shows Contradictory Signals

Published: 13.08.2024 13:32 GMT+01

Retail trader data for Gold shows a slight long bias, with 54.26% of traders holding net-long positions, resulting in a long-to-short ratio of 1.19 to 1. The number of net-long traders has increased by 1.07% since yesterday and 12.29% over the past week. Meanwhile, net-short traders have grown by 3.25% from yesterday and 6.33% from last week.

Taking a contrarian approach to crowd sentiment suggests there could be further downside potential for Gold prices.

However, the signals are mixed—there are fewer net-long positions than yesterday but more compared to last week. This, coupled with recent shifts in trader positioning, creates a complex outlook for Gold. The current sentiment and these changes lead to a further mixed trading perspective for Gold.

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