Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players increased their bullish bets on gold in the week ending July 18.
According to the data, 66.7% of market players held long positions in gold last week, up from 63.3% a week earlier. A reading above 50% means that more than half of traders are holding long positions for that instrument.
Meanwhile, 42.3% held long positions in EUR/USD, improving from 37.2% in the preceding week, while 42.1% of investors were long in GBP/USD, up from 37.8% a week earlier.
Elsewhere, 70.6% of market participants held long positions in USD/JPY, down from 77.2% a week earlier, while 54.0% of investors were long USD/CHF, compared to 59.7% in the preceding week.
Amongst the commodity-linked currencies, 50.1% were long USD/CAD, down from 55.1% a week earlier, 54.8% held long positions in AUD/USD, compared to 54.1% in the preceding week, while 49.9% were long NZD/USD, up from 38.5% a week earlier.
Elsewhere, 42.4% of market participants held long positions in the S&P 500 last week, up from 20.2% in the previous week.
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.
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.