From a technical perspective, gold was likely due for a noticeable pullback judging by the red-hot relative strength index (RSI). The RSI has been increasingly sending an ‘overbought’ signal due to the 13 percent runup in the commodity since bottoming August of last year. As such, the selling in gold could be viewed as a healthy ‘reversion to the mean’ with prices consolidating back towards its moving average. Although, gold bulls were ...
The breakout above yearly down-trend resistance in Gold has fueled a rally of nearly 4% off the monthly lows with the advance failing just ahead of a key resistance range in price. These are the updated targets and invalidation levels that matter on the XAU/USD charts. more...
Spot Gold: Retail trader data shows 83.7% of traders are net-long with the ratio of traders long to short at 5.15 to 1. The number of traders net-long is 5.8% higher than yesterday and 6.0% lower from last week, while the number of traders net-short is 15.7% lower than yesterday and 19.6% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue ...
World Gold Council, the market development organization for the gold industry, recently released their Gold Demand Trends Q1 2018 report. According to the report, stock market volatility sparked US inflows, but outflows in other regions. This kept gold prices muted and left investors lacking confidence on prices, weakening demand for gold. Other key highlights of the report include gold bar and gold coin demand falling 15%, a decline led ...
Spot Gold: Retail trader data shows 69.7% of traders are net-long with the ratio of traders long to short at 2.3 to 1. The number of traders net-long is 15.4% higher than yesterday and 0.3% higher from last week, while the number of traders net-short is 28.2% lower than yesterday and 10.0% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue ...
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