Gold Futures: Extra decline on the table
|Considering advanced prints from CME Group for gold futures markets, open interest rose for the second session in a row on Thursday, this time by just 162 contracts. Volume followed suit and went up by around 35.2K contracts, keeping the ongoing choppiness unchanged.
Gold: Initial support emerges at $1945
Thursday’s marked pullback in gold prices was on the back of rising open interest and volume, opening the door to further weakness in the very near term. That said, the yellow metal is expected to meet initial support around the $1945 level per troy ounce.
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.