Gold Futures: Room for extra gains near-term

Gold Futures: Room for extra gains near-term

In light of preliminary figures for Gold futures markets from CME Group, open interest reversed three pullbacks in a row and went up by around 4.7K contracts on Tuesday. In the same line, volume extended the downtrend for the third consecutive session, this time by nearly 10.3K contracts. Gold meets initial hurdle at $1,920/oz

Prices of gold extends the upbeat momentum so far this week. Tuesday’s positive price action was in tandem with rising open interest, leaving the door open for the continuation of this move in the very near-term. That said, the 55-day SMA at $1,922 emerges as the initial interim hurdle. 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 […]

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