DailyFX.com - Gold Prices May Rally Further off of Lows

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

GOLD Retail forex traders remain heavily long Gold versus the US Dollar, but a recent shift towards selling suggests that the precious metal could soon turn higher.

Trade Implications GOLD Our Senior Strategist notes that Gold is at a potential crossroads as it enters a key cyclical turn window, and a close above $1286 would leave us focused on further gains. It enters the potential crossroads with retail short interest in XAUUSD up a noteworthy 34 percent on the week. A break higher in price alongside further retail crowd selling would help confirm an important Gold price low.

See next currency section: EURJPY - Euro at Critical Turning Point versus Japanese Yen

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Gold Tests Breakdown Line

  2. Forex News

    Gold Breaks Range Support, SPX 500 Attempts Cautious Recovery

  3. Investing

    Gold Tests Support Around $1168

  4. Forex News

    Gold Stalls at Chart Support as SPX 500 Digests After Dramatic Drop

  5. Forex News

    Crude Oil Consolidates, Awaiting Greek Referendum and Iran Deal

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!