Gold Futures: Downside seems limited
|Considering advanced prints from CME Group for gold futures markets, open interest remained choppy and shrank by around 14.3K contracts on Thursday, reversing at the same time the previous daily build. Volume, instead, resumed the uptrend and rose by around 75.5K contracts.
Gold: Decent support emerges around $1900
Thursday’s decline in gold prices was on the back of diminishing open interest and removed strength from an occasional deeper pullback in the very near term. That said, the precious metal is likely to remain supported around the $1900 region per ounce troy for the time being.
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