Open interest in Gold futures markets shrunk by more than 3K contracts on Wednesday, according to preliminary readings from CME Group. In the same line, volume went down by around 33K contracts, partially reversing the previous build.
Gold stays capped by $1,760
Gold prices keep the consolidation theme well and sound for the time being. Wednesday’s downtick was amidst shrinking open interest and volume, leaving the probability of further upside somewhat contained. That said, the next hurdle of note still emerges at the $1,760 mark per ounce troy.
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.