Gold Futures: Extra consolidation not ruled out
|Open interest in Gold futures markets rose by around 6.2K contracts on Friday according to flash data from CME Group. In the same line, volume went up by nearly 1.7K contracts.
Gold points to further rangebound below $2,000/oz
The price of the ounce troy of the precious metal is seen extending the current consolidative mood below the $2,000 mark amidst Friday’s inconclusive price action and rising open interest and volume.
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, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.