1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Gold: Sentiment bearish ahead of the Fed meet – TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Delhi) – Research Team at TDS, notes that according to the commitment of traders Report for the week ending December 8th, 2015, only about 5% of spec shorts in gold had covered their positions, as the Euro rallied on the back of Draghi's disappointment, the sentiment is still quite bearish for the yellow metal ahead of the first rate rise.

    Key Quotes

    “PGMs followed gold for the most part, rising with the currency move, however stronger European auto sales, helped platinum specs cover a large portion of their hefty short positioning.”

    “Palladium also saw sizeable short covering (10% of short positions) on the move with US auto sales set for strong growth on the year--shorts should remain cautious of betting against the metal with a huge rebound in Chinese auto sales for November.”
    For more information, read our latest forex news.
     

Share This Page