Gold Outlook Remains Bearish Heading into Final Quarter of 2017

| 29 september, 2017 | 0 kommentarer

Gold Outlook Remains Bearish Heading into Final Quarter of 2017

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Spot Gold: Retail merchant information shows 74.2% of traders are net-long with a ratio of traders prolonged to brief during 2.87 to 1. The series of traders net-long is 1.5% reduce than yesterday and 0.2% reduce from final week, while a series of traders net-short is 3.3% reduce than yesterday and 18.8% reduce from final week.

We typically take a contrarian perspective to throng sentiment, and a fact traders are net-long suggests Spot Gold prices might continue to fall. Traders are serve net-long than yesterday and final week, and a multiple of stream view and new changes gives us a stronger Spot Gold-bearish contrarian trade bias.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

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Kategori: Analys från DailyFX

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