Gold At Risk Of Weakness
Dailyfx | Jul 30, 2015 12:24PM ET
Gold – Retail FX traders remain long gold versus the US dollar and a contrarian view of crowd sentiment acts as a signal that gold prices may continue to decline. Last week we noted that long positions had actually fallen despite continued Gold price weakness — warning that the pace of declines may slow on sentiment exhaustion. Yet we would have to see a sustained shift before calling for a meaningful price reversal.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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