Gold Futures: Still room for extra gains
|Open interest in Gold futures markets reversed the previous day drop and increased by nearly 1.1K contracts on Wednesday in light of preliminary figures from CME Group. On the opposite direction, volume shrunk by nearly 58.5K contracts after two consecutive daily builds.
Gold remains capped by $1,800
Gold prices edged higher on Wednesday and gradually approaches the key $1,800 level. The move was sustained by rising open interest, indicative that the continuation of the uptrend remains in place in the very near-term. That said, the $1,800 mark per ounce troy stays as the next key barrier 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.