According to the latest readings from the Speculative Sentiment Index (SSI), the ratio of long to short positions in gold (XAU/USD) stands at 1.80. That means there are 1.80 long positions among our retail client base for each short position.
Past performance is not necessarily indicative of future results.
In other words, 64% of traders are long, while only 36% are short. SSI is a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that gold may continue lower.