OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold: Traders holding a long position – TDS

Gold is sitting at $1565.75 while the context for the yellow metal is a market where traders are holding long, but not large positions, according to strategists at TD Securities.

Key quotes

“Gold is a crowded trade. The bull market narrative is widely acknowledged, which translates to an above-average number of traders holding a long position, although the average trader's position size is not excessive, suggesting that greed is not widespread.” 

“The risk to gold bugs is a change in narrative that would prompt a decline in the number of traders long. A reversal of recent safe-haven flows driven by fears that the Wuhan coronavirus could contaminate global reflation appears to be an obvious candidate for a narrative-driven reversal.

 

FOMC Chairman Powell testimony before Senate Banking Committee – live stream

Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, will be testifying before the Committee on Banking, Housing and Urban Af
Read more Previous

Oil: Crude could see additional pain – TDS

OPEC’s doubts to add production curbs alongside a possible Libyan oil production resumption might bring additional losses to the crude oil, according
Read more Next
Start livechat