Gold Futures: Further rebound likely
|Open interest in gold futures markets rose by just 203 contracts on Friday, considering flash data from CME Group. On the opposite direction, volume extended the choppy activity and shrunk by nearly 51K contracts.
Gold now re-targets $1,900 and beyond
Gold prices rebounded from 3-week lows and closed the session with decent gains on Friday. The corrective bounce was on the back of a small gain in open interest, leaving the door open for the continuation of the recovery at least in the very near-term. That said, recent tops beyond the $1,900 mark per ounce troy now emerge as the next resistance of relevance.
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.