The latest leg of the rally in Gold is a stop hunt? – TDS
Source Fxstreet
The timing of Gold's incursion into new all-time highs struck several market watchers as odd, but the latest CFTC positioning data helps to inform the price action, TDS’ Senior Commodity Strategist Daniel Ghali notes.
Latest leg of the rally might be associated with a short-squeeze
“A few proprietary traders, family offices and macro funds joined the dark side over the prior week, initiating some shorts ahead of the highly anticipated start of the Fed's cutting cycle.”
“Meanwhile, our gauge of macro funds' net positioning nudged lower over the last week, which alongside max'ed out readings for CTA positioning and concurrent liquidations from Shanghai traders, reveals that the latest leg of the rally may well have been associated with a short-squeeze.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The Federal Reserve has been chasing the 2% inflation target for years. Now, with new inflation data from September, it looks like they’re getting close.
Why Affirm Holdings Stock Leaped 12% Higher TodayInvestors were clearly in a mood to buy now and pay immediately for shares of specialty financial company Affirm (NASDAQ: AFRM) on Friday. The buy now, pay later (BNPL) commerce facilitator didn't have any proprietary news to deliver; rather, it benefited from the latest in a recent series of analyst recommendation upgrades.
Investors were clearly in a mood to buy now and pay immediately for shares of specialty financial company Affirm (NASDAQ: AFRM) on Friday. The buy now, pay later (BNPL) commerce facilitator didn't have any proprietary news to deliver; rather, it benefited from the latest in a recent series of analyst recommendation upgrades.
SEC delays Ethereum ETF decision until DecemberThe U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on listing options tied to spot Ethereum exchange-traded funds (ETFs), as per an Oct. 11 announcement. The deadline for a ruling has been extended from the initial date of Oct. 19 to Dec. 3.
The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on listing options tied to spot Ethereum exchange-traded funds (ETFs), as per an Oct. 11 announcement. The deadline for a ruling has been extended from the initial date of Oct. 19 to Dec. 3.
The USD/JPY edged higher during the North American session as US Treasury yields remained higher, particularly the 10-year T-note, which was up close to four basis points at 4.104%.
Investing.com -- AMD (NASDAQ:AMD) announced on Thursday that it will begin mass production of its new MI325X AI chip in Q4, as it looks to expand its footprint in a market dominated by Nvidia (NASDAQ:NVDA).
Related Instrument
