Gold Futures: Extra gains in the pipeline

Pablo Piovano FXStreet

Traders added almost 10.5K contracts to their open interest positions on Thursday, reversing two drops in a row, as per advanced prints from CME Group. In the same direction, volume partially offset the previous drop and increased by around 70.5K contracts.

Gold expected to move higher on safe haven demand

News from the Wuhan coronavirus continues to drive the price action in the ounce troy of Gold, at least in the very near-term. Thursday’s uptick was reinforced by open interest and volume, leaving the scenario ripe for the continuation of the upside.

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.

GBP/USD off highs, back to 1.3620

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EUR/USD treads water below 1.1700

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Gold extends its last week's stellar performance into Asian trading on Monday, refreshing three-month highs beyond $4,600. The precious metal capitalizes on persistent US Dollar weakness, following the US Treasury's buyback plan amid fresh US-Canada trade tensions.

Bitcoin, Ethereum and Ripple pause as momentum indicators signal overbought conditions, massive rallies

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday, with a bullish bias but appearing stretched after surging over 23%, 31% and 53% in the previous week. Such a massive rally suggests the top three cryptocurrencies could consolidate or pull back in the short term as traders take profits.

US Dollar Weekly Forecast: Enter Jackson, mind the (budget) Hole

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$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.