OUNZ - Key Gold Sentiment Indicators Suggest Near-Term Caution Long-Term Upside
2024-04-30 06:41:40 ET
Summary
- The Commitments of Traders (COT) Report has accurately signaled major turns in gold prices over the past ten years.
- The current COT data suggests that gold may have more upside potential, but caution is advised in the near term.
- Sentiment indicators, such as media coverage and newsletter bullishness, suggest frothiness in the gold market and raise contrarian concerns.
This is a follow-up to my article in November, Where is Gold Going? Watch Sentiment, Not Fundamentals. The data shows the flaws in conventional wisdom regarding the effects of inflation, Fed policy, and the dollar on gold prices....
Key Gold Sentiment Indicators Suggest Near-Term Caution, Long-Term Upside