Gold longs being reduced following recent build-up — #SaxoStrats

Precious metals continue to see selling pressure as the March 15 Fed rate hike looms large. A sharp build up in speculative gold longs in the week to February 28 has left if vulnerable with the focus on the March 15 Federal Open Market Committee meeting. This follows the failure to extend beyond $1264/oz its 200-day moving average.

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/gold-longs-being-reduced-following-recent-build-up-saxostrats-8520739?utm_medium=tf4-feed&utm_source=extract