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GOLD Technical Analysis October 23rd

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GOLD Technical Analysis October 23rd

I will not write anything about mid-long term XAUUSD Gold trade. I have published my ideas before. The new visitors can read them from the following links:

Long Term Gold Forecast: Why I will continue to buy

XAUUSD Gold Technical Analysis October 16th

Short-Term Fundamentals:

Gold Non-Commercial Speculator Positions:

Large speculators slightly raised their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totalled a net position of 200,724 contracts in the data reported through Tuesday, October 17th. This was a weekly boost of just 612 contracts from the previous week which had a total of 200,112 net contracts.

Speculative positions had declined for the previous four weeks before this week's small rise. Total gold speculative bets have continued to remain above the +200,000 net contract level for nine straight weeks.

Gold Commercial Positions:

The commercial trader's position, hedgers or traders engaged in buying and selling for business purposes, totalled a net position of -221,624 contracts on the week. This was a weekly advance of 1,373 contracts from the total net of -222,997 contracts reported the previous week.

Another Important Issue:

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This article was written by Emre Tutucu for http://www.fxters.com/gold-technical-analysis-october-23rd/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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