Gold Futures: Further upside stays on the cards
|Traders increased their open interest positions by just 178 contracts on Monday following two daily pullbacks in a row, according to flash figures from CME Group. On the other hand, volume shrunk for the second session in a row, this time by nearly 7.1K contracts.
Gold faces the next hurdle at $1,933/oz
Prices of the ounce troy of gold might extend the weekly upside momentum following Monday’s uptick in tandem with rising open interest. That said, the next hurdle of note is seen at the monthly peaks at $1,922 per ounce (October 12).
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.