Gold Futures: Potential for further pullbacks
|Traders added nearly 2.5K contracts to their open interest positions on Tuesday, resuming the uptrend as per advanced data from CME Group. On the other hand, volume shrunk by 36.3K contracts after three consecutive daily builds.
Gold: Short-term top in place?
Tuesday’s pullback in prices of the ounce troy of gold was accompanied by rising open interest, opening the door for a deeper correction in the near-term. That said, Friday’s 2020 high just below the $1,700 mark could be an interim top 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.