The rise in real yields is a concern for gold and one which makes me hard to get bullish on the precious metal. Get your market update from JMcQueenFX here:
, the rise in real yields is a concern for gold and one which makes me hard to get bullish on the precious metal. Now admittedly, lower gold prices has not initially been the case given the failed test at 2000. With gold below 1915, this now represents resistance, while key support is situated at 1880. Until 1880 is broken, technically, gold is neutral.ata shows 84.67% of traders are net-long with the ratio of traders long to short at 5.52 to 1. The number of traders net-long is 20.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall.combination of current sentiment and recent changes gives us a stronger Gold-bearish contrarian trading bias.
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