U.S. Markets closed

Gold Prices Might Finally Resume Uptrend

David Rodriguez


ssi_GOLD_body_XAUUSDSSI.png, Gold Prices Might Finally Resume Uptrend

GoldTrading crowds remain modestly long Gold against the US Dollar, but the largest single-day XAUUSD rally in 4 years suggests we may be at a key turning point for the precious metal.


Trade Implications – Gold: We typically take a contrarian view of crowd sentiment; if most people are long Gold we prefer to be short. Yet our Senior Market Strategist notes that Gold may be at a key cyclical turning point; if it remains above $1273, XAUUSD may actually reverse its medium-term downtrend. Receive any and all updates on my e-mail distribution list via this link.


--- 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.