Number of traders net-short has decreased by 35.32% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Gold: Retail trader data shows 83.88% of traders are net-long with the ratio of traders long to short at 5.21 to 1. Our data shows traders are now at their most net-long Gold since Sep 04 when Gold traded near 1,933.11. The number of traders net-long is 1.23% higher than yesterday and 7.74% higher from last week, while the number of traders net-short is 25.25% lower than yesterday and 35.32% 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.