Gold–Retail forex trader are now net-short gold against the US Dollar for the first time since May, giving us contrarian signal that Gold prices may head higher through short-term trading.
Trade Implications – Gold: The substantial swing in gold trading sentiment leaves us bullish, but it’s important to note that market cycles suggest Gold prices might top as early as next week. We’ll watch the next several days of price action with clear interest.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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