Gold Futures: Scope for further correction
|Considering advanced prints from CME Group for gold futures markets, traders increased their open interest positions for the second session in a row on Thursday, this time by around 2.4K contracts. On the other hand, volume reversed two consecutive daily builds and shrank by around 40.4K contracts.
Gold: Gains appear limited just above $1,800
Gold prices edged lower for the second session in a row on Thursday amidst rising open interest, which is indicative that extra weakness could be in store in the very near term. In the meantime, the $1,800 region continues to emerge as the immediate magnet for gold bulls.
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.