The Investing.com weekly sentiment index published on Monday revealed that market players increased their bullish bets in the gold futures market for the third consecutive week in the week ending July 25.
According to the data, 67.6% of market players held long positions in gold last week, up from 66.7% a week earlier. A reading above 50% means that more than half of traders are holding long positions for that instrument.
Meanwhile, 38.4% held long positions in EUR/USD, down from 42.3% in the preceding week, while 45.6% of investors were long in GBP/USD, up from 42.1% a week earlier.
Elsewhere, 64.2% of market participants held long positions in USD/JPY, down from 70.6% a week earlier, while 49.0% of investors were long USD/CHF, compared to 54.0% in the preceding week.
Amongst the commodity-linked currencies, 44.5% were long USD/CAD, down from 50.1% a week earlier, 56.1% held long positions in AUD/USD, compared to 54.8% in the preceding week, while 59.0% were long NZD/USD, up from 49.9% a week earlier.
Elsewhere, 37.9% of market participants held long positions in the S&P 500 last week, down from 42.4% 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.