Gold Futures: Extra decline not ruled out
|Open interest in gold futures markets rose by just 375 contracts for the first time since February 2 on Monday, according to preliminary readings from CME Group. Volume, instead, shrank for the second consecutive session, this time by nearly 25K contracts.
Gold could slip back to the $1800 region
Gold prices started the week on the defensive. Despite the small uptick in open interest, there is room for further weakness in the very near term and with the next target of note at the key $1800 region per ounce troy.
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.