Number of traders net-short has decreased by 18.59% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 88.19% | 11.81% | 3.51% 6.72% | -3.00% -18.59% | 2.70% 2.94% |
Gold: Retail trader data shows 88.19% of traders are net-long with the ratio of traders long to short at 7.47 to 1. Our data shows traders are now at their most net-long Gold since Jul 06 when Gold traded near 1,739.01. The number of traders net-long is 3.51% higher than yesterday and 6.72% higher from last week, while the number of traders net-short is 3.00% lower than yesterday and 18.59% 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 sentiment and recent changes gives us a stronger Gold-bearish contrarian trading bias.
