Market Analysis

Market AnalysisGold IG Client Sentiment: Our data shows traders are now net-short Gold for the first time since Jul 19, 2024 when Gold traded near 2,400.62.

13 Aug, 2024

Number of traders net-short has increased by 33.84% from last week.

SYMBOL	TRADING BIAS	NET-LONG%	NET-SHORT%	CHANGE IN LONGS	CHANGE IN SHORTS	CHANGE IN OI
				Daily Weekly	Daily Weekly	Daily Weekly

Gold : In fact, traders have remained net-short since Jul 19 when Gold traded near 2,400.62, price has moved 2.63% higher since then. The number of traders net-long is 4.59% lower than yesterday and 0.69% lower from last week, while the number of traders net-short is 17.28% higher than yesterday and 33.84% higher from last week.

Our data shows traders are now net-short Gold for the first time since Jul 19, 2024 when Gold traded near 2,400.62. 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.