Market Week Ahead: Gold Pops, US Dollar Drops, GBP/USD and EUR/USD Rally



Gold picked up after both US data releases and touched $2,070/oz. on Friday before giving back some gains. A weaker US dollar and lower US Treasury yields boost gold’s allure and a fresh attempt at the December 4th spike high at $2,147/oz. is on the cards in early 2024.

Retail trader data shows 59.65% of traders are net-long with the ratio of traders long to short at 1.48 to 1.The number of traders net-long is 6.22% lower than yesterday and 1.59% higher than last week, while the number of traders net-short is 2.46% higher than yesterday and 5.68% higher than last week.

(Source:Dailyfx-Nick Cawley)
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)