Gold Futures: Further correction on the table

Pablo Piovano FXStreet

CME Group’s flash data for gold futures markets noted open interest rose by around 2.6K contracts on Wednesday, extending the current erratic performance. In the same line, volume went up for the second session in a row, this time by around 40K contracts.

Gold remains capped by $1,800

Prices of the ounce troy of gold surpassed the key $1,800 mark on Wednesday, although they close below this key mark and with modest losses. The move was in tandem with increasing open interest and volume, indicative that further decline could be in the pipeline in the very near term.

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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