Number of traders net-short has increased by 32.02% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Gold | BULLISH | 49.48% | 50.52% |
-16.01% Daily -15.36% Weekly |
30.36% Daily 32.02% Weekly |
2.39% Daily 3.38% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -16% | 30% | 2% |
| Weekly | -15% | 32% | 3% |
Gold: Retail trader data shows 49.48% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Dec 04 when Gold traded near 2,033.92, price has moved 0.88% higher since then. The number of traders net-long is 16.01% lower than yesterday and 15.36% lower from last week, while the number of traders net-short is 30.36% higher than yesterday and 32.02% 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 Dec 04, 2023 when Gold traded near 2,033.92. 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.