FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
As we are publishing this report gold is trading at $1485 however the white metal is hovering around $14.70.we have already informed you that our strong bearish bias will be intact within the precious metal sector until unless The yellow metal breaks above $1520 however it seems it won't manifest any time soon, we understand the role of technical analysis however we are also aware it's a small part of the bigger puzzle when you are dealing within the sector. we believe that macro research is crucial if one's trying to forecast the gold and silver prices and we have made our research report public which is freely available within the below link.

our whole macro data analysis not only help us to understand the bigger picture of the gold and silver market instead at the same time it also assist us to evaluate the overall U.S and other major economies,so ultimately it helps us to analyze the major stock indices, forex market, P. ms , and even cryptocurrency market to some extent.

According to the latest trade data from the Commodities Futures Trading Commission (CFTC), hedge funds(smart money) have started to liquidate their bullish bets.

The CFTC's disaggregated Commitments of Traders report, for the week ending Oct. 15, showed money managers dropped their speculative gross long positions in Comex gold futures by 17,989 contracts to 213,987. At the same time, short bets rose by 6,725 contracts at 38,200. Gold's net-long positioning currently stands at 175,787 contracts, down more than 12% from the previous week.

Along with gold , hedge funds continue to liquidate their bullish bets in silver .

The disaggregated report showed money-managed speculative gross long positions in Comex silver futures fell by 3,686 contracts to 69,627. At the same time, short positions increased by 1,888 contracts to 28,995. Silver's net length currently stands at 40,632 contracts, also down 12% from the previous week.

We have also witnessed a significant breakdown in the dollar index last week when it plunged - 0.35%, with the index currently at 96.955. The weakness in the index supposed to lift the gold prices but it didn't, so it's safe to say that we would have sawed a significant plunge in the gold market if the dollar index hasn't been broken down last week.

we believe the next (downward)move in the gold and silver market could be significant and we could witness $1450-$1460 prices in the gold market very soon.

Related Ideas


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out