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Oct 14 - 11:55 AM

Gold - There's Room For Gold To Rise

By Jeremy Boulton  —  Oct 14 - 09:45 AM
  • Gold rising to $2666/oz on Oct 14- record high $2685

  • The overbought situation which halted rise in Sep since alleviated

  • Top of 20-day Bollingers has since risen to $2697/oz

  • Bets on gold rising reduced for 2 weeks running with little impact for gold

  • Bullish bets 278k contracts vs 315k in September - less restraint on rally

  • Next bull target for gold is $2732/oz

  • What matters most is traders are short dollars nL1N3LQ07E

Source:
Refinitiv IFR Research/Market Commentary

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