Big investors anticipate higher gold prices
The dollar has been weakening since the beginning of the trading week.
The dollar has been weakening since the beginning of the trading week. A reduction in investors' risk appetites favours gold prices (XAU/USD), which remain above the 200-day moving average. According to the US Commodity Futures Trading Commission (CFTC), net long positions in gold rose to a new six-month high. The opening of long positions as short positions are closed indicates that large investors are confident that the price of gold will continue to rise.
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