Gold Futures: Further gains look likely
|In light of preliminary figures for Gold futures markets from CME Group, traders increased their open interest positions for the fifth consecutive session on Monday, this time by around 6.2K contracts. Volume, in the same line, advanced for the third session in a row, now by around 44.7K contracts.
Gold keeps pushing higher
Prices of the ounce troy of Gold tested the area of 2020 highs near $1,765 at the beginning of the week, although closing the session below it afterwards. Rising open interest and volume in combination with higher prices open the door to the continuation of the uptrend at least in the short-term horizon.
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.