Gold Futures: Door open to extra gains

Pablo Piovano FXStreet

CME Group’s flash data for gold futures markets noted traders increased their open interest positions by nearly 5K contracts on Monday, reversing at the same time Friday’s pullback. In the same line, volume went up by around 25.2K contracts after five straight drops.

Gold: A visit to $2000 remains in store

Prices of the ounce of troy of gold started the week on a positive foot and retested the $1990 region. The uptick was on the back of rising open interest and volume and this is indicative that further strength lies ahead for the precious metal. The next target on the upside, in the meantime, remains at the 2023 high at $2009 (March 20).

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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