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- de Meadville International (based on Investing.com)
Pair's Outlook
As the bullion surged on Brexit vote results, it saw huge volatility by even reaching the 1,358 level at a certain point. However, the yellow metal closed the previous trading session at 1,315.73. With the start of a new week, on Monday, the metal started a new trading session and opened at 1,321.09. In addition, gold has been surging since the opening and remains highly volatile, as it touched the 1,335 level. At the moment, the commodity is trading at 1,325 by 7:15 GMT. In the meantime, aggregate technical indicators forecast a surge for the metal today.
Traders' Sentiment
SWFX traders are bearish on the yellow metal, as 57% of open positions are short. However, pending orders in the 100-pip range are 100% long, which confirms the surge.
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