Gold–Retail Forex speculators have bought aggressively into recent Gold price weakness, and indeed long interest is at its highest since the precious metal dropped to $1200 in June.
Trade Implications – Gold: Our Senior Market Strategist notes that the Gold price downward correction may be ending, but we’ll need to see it hold key support to remain bullish in the short-term. Retail FX sentiment would likewise need to turn; as it stands, a further build in crowd buying would leave us clearly in favor of further weakness.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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