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