Gold Futures: Extra losses on the table

Gold Futures: Extra losses on the table

Traders added around 3.2K contracts to their open interest positions on Tuesday, in light of advanced figures from CME Group. On the other hand, volume resumed the downside and shrunk by around 70.1K contracts. Gold could slip back to $1,850/oz

Tuesday’s negative price action in gold prices was in tandem with rising open interest, opening the door to further retracements in the short-term. That said, the next support of note emerges at the monthly low at $1,850 per ounce (November 9). Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, […]

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