Xauusd. sentiment buy. Sell

The sentiment for XAU/USD, as of the latest data, is leaning slightly towards the bearish side. Here's a detailed analysis:

1. Recent Price Movement:
   • The XAU/USD pair has experienced a recent dip, with the price falling from around $2,360 to $2,357.03.
   • This indicates a bearish sentiment in the short term.
2. Market Sentiment:
   • The sentiment among traders is currently bearish, with a majority indicating a preference for selling.
   • This is the first time since July 19, 2024, that the sentiment has been net-short gold, suggesting a potential for further selling pressure.
3. Technical Indicators:
   • The daily chart shows the pair holding below the 23.6% Fibonacci retracement of the April/May rally at $2,326.50.
   • The 20 Simple Moving Average (SMA) is slightly bearish, which could be contributing to the bearish sentiment.
4. Fundamental Factors:
   • Inflation concerns, as indicated by the recent rise in the Producer Price Index (PPI), could be influencing the sentiment.
   • The upcoming Consumer Price Index (CPI) report could also play a role in shaping market sentiment.
5. Geopolitical and Economic Factors:
   • Geopolitical risks, such as those related to the Middle East, can act as a tailwind for gold.
   • However, the overall economic outlook and market sentiment towards risk assets will also influence the sentiment towards gold.

In conclusion, while there are some positive factors supporting gold, such as robust over-the-counter market investments and central bank purchases, the current sentiment for XAU/USD is leaning towards selling. Traders should consider these factors and monitor market developments closely, especially in the context of upcoming economic data and geopolitical events.