Gold Futures: Further gains look likely
|Considering preliminary readings from CME Group for gold futures markets, traders added nearly 5K contracts to their open interest positions on Friday, reaching the third consecutive daily build. In the same line, volume extended the uptrend for yet another session, now by around 47.5K contracts.
Gold still targets $1,800
Friday’s uptick in prices of the yellow metal was on the back of rising open interest and volume, allowing for further upside in the very near term. Against that, the $1,800 mark per ounce troy of gold remains the key target for bulls for the time being.
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.