Gold Futures: Upside remains limited
|In light of advanced figures from CME Group for Gold futures markets, investors trimmed their open interest positions for the third session in a row on Wednesday, this time by around 4.7K contracts. Volume, instead, went up for the second consecutive session, now by around 48.3K contracts.
Gold remains capped by $1,800
Gold prices extended the choppy activity so far this week and posted decent gains on Wednesday. The positive move, however, was on the back of shrinking open interest, indicative that further upside could be losing traction. That said, the metal faces the next target of note at the $1,800 mark per ounce troy 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.