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. Investing

    Gold: August 2015 Forecast

  2. Forex News

    Oil at Five-month Low as Iran Positions for Post-sanction Exports

  3. Forex News

    Gold Technical Analysis: Range-Bound Trade Continues

  4. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  5. Forex News

    Gold Holds Key Support- NFPs to Shape August Opening Range

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!