Gold price looks weak. Sentiment backs this up

Gold – US Dollar Gold Commodity

Instrument: Spot Gold  

Current Price : $1216

Status : Overview and direction commentary


Gold has had some big moves in the past few years which can be profitable for traders who get the direction correct.

We keep a close eye on retail trade orders and trade positions for overall sentiment in these markets.

When there is a large skew of retail traders holding positions on expectations of a move up we will look for opportunities in the opposing direction.

Currently with the gold market in a downtrend and the sentiment also pointing to lower prices we are expecting a near term test of $1200 for spot gold.