U.S. Markets open in 2 hrs 1 mins

Gold Prices Could Bottom, but Better Trades Elsewhere

David Rodriguez

ssi_GOLD_body_Picture_14.png, Gold Prices Could Bottom, but Better Trades Elsewhere

GoldNot much is happening in Gold, and frankly I think there are better trading opportunities elsewhere. Effectively neutral retail forex positioning gives me little reason to expect major moves in either direction.

Trade Implications – Gold: Our Senior Market Strategist believes that trading cycles favor an important Gold price low towards the end of June. But until I see any real signs of pick up in retail sentiment gold trading, I see no compelling reason to call for a near-term reversal.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.