Gold Futures: Further consolidation likely

Pablo Piovano FXStreet

Traders increased their open interest positions by nearly 2K contracts on Thursday according to preliminary data from CME Group. In the same line, volume rose for the second session in a row, this time by around 37.1K contracts.

Gold looks side-lined below $1,900/oz

Gold prices charted an inconclusive session on Thursday amidst rising open interest and volume, exposing further consolidation at least in the very near-term. That said, the next hurdle of note remains at the $1,900 per ounce for the time being.

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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