"Gold specs marginally increased positioning this week as conflicting information prompted both longs and shorts to lighten their exposure to the yellow metal," note TD Securities analysts.
"While money manager and CTA short positioning remains near record levels, suggesting a short covering rally could be in the cards, commercial positions are expressing a more bullish outlook for the yellow metal."
"In fact, commercials' net length remains long and is near its highest levels since 2001, which implies they see value at current prices. That being said, we suspect that any rally in gold will remain short-lived until the dollar weakens further."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.