Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators increased their bullish bets on gold in the week ending May 22.
According to the report, 63.2% of market participants held long positions in gold futures as of last week, up sharply from 45.7% in the preceding week. A reading between 50%-70% is bullish for the instrument.
Meanwhile, 34.0% of investors held long positions in EUR/USD, compared to 28.9% in the preceding week, while 44.0% of investors were long in GBP/USD, improving from 30.1% a week earlier.
Elsewhere, 47.4% of market participants held long positions in USD/JPY, down from 51.0% in the preceding week, while 49.5% of investors were long USD/CHF, little changed from 50.0% in the previous week.
Amongst the commodity-linked currencies, 40.1% were long USD/CAD, down from 43.5% a week earlier, 46.9% held long positions in AUD/USD, compared to 43.0% in the preceding week, while 41.8% were long NZD/USD, up from 38.4% a week earlier.
In the equities market, 35.4% of investors were long the S&P 500 as of last week, improving from 23.8% in the preceding week.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.
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Investing.com sentiment: bullish bets on gold rise sharply last week
Published 25/05/2015, 10:08
Investing.com sentiment: bullish bets on gold rise sharply last week
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