Our data shows traders are now net-short Gold for the first time since Feb 02, 2023 when Gold traded near 1,914.89.
Number of traders net-short has increased by 69.93% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 49.97% | 50.03% |
-0.13% Daily -23.80% Weekly |
9.45% Daily 69.93% Weekly |
4.44% Daily 5.25% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 0% | 9% | 4% |
| Weekly | -24% | 70% | 5% |
Gold: Retail trader data shows 49.97% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Feb 02 when Gold traded near 1,914.89, price has moved 2.92% higher since then. The number of traders net-long is 0.13% lower than yesterday and 23.80% lower from last week, while the number of traders net-short is 9.45% higher than yesterday and 69.93% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Gold prices may continue to rise.
Our data shows traders are now net-short Gold for the first time since Feb 02, 2023 when Gold traded near 1,914.89. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Gold-bullish contrarian trading bias.
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