Gold Futures: Further consolidation likely
|Open interest in gold futures markets rose by just 708 contracts at the beginning of the week considering preliminary readings from CME Group, extending the choppy activity seen as of late. On the flip side, volume shrank for the second session in a row, this time by around 18.1K contracts.
Gold looks side-lined near $1,800/oz
Gold started the week on a positive note and extended the erratic performance for another session, always a tad below the $1,800 mark per ounce troy. The precious metal kept the familiar range amidst rising open interest, hinting at the idea that further consolidation remains on the cards.
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.