Gold Futures: Further upside appears contained
|Open interest in Gold futures markets shrunk by around 3.1K contracts on Thursday, reversing three consecutive daily builds according to flash data from CME Group. Volume, instead, rose for the third session in a row, this time by around 34.3K contracts.
Gold: Gains seem limited around $1,760
Gold prices charted an inconclusive day on Thursday after hitting weekly tops in the $1,760 area per ounce troy. The move was accompanied by shrinking open interest and rising volume, exposing further consolidation in the very near-term.
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.