Gold Futures: Door open for extra upside

Pablo Piovano FXStreet

Open interest in Gold futures markets from CME Group rose by around 8.2K contracts following two daily pullbacks in a row. Volume, instead, shrunk by around 106.1K contracts, reversing at the same time two consecutive daily builds.

Gold still targets $1,850

Gold prices resumed the upside on Thursday amidst rising open interest. That said, the continuation of the rebound appears likely in the very near-term and always with the immediate target at the 200-day SMA, today at $1,847 per ounce troy.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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