Gold Futures: Further gains in the pipeline

Pablo Piovano FXStreet

According to preliminary readings from CME Group for gold futures markets, open interest rose for the second session in a row on Wednesday, this time by around 2.7K contracts. Volume, instead, shrank for the second straight day, now by around 32.8K contracts.

Gold: Next target comes at $1,800

Wednesday’s uptick in gold prices was amidst rising open interest and expose further gains in the very near term. That said, further upside in the commodity now retargets the key resistance zone around $1,800 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.

GBP/USD keeps the firm tone above 1.3600

GBP/USD clings to its daily gains, although it gives back some of them and recedes toward the 1.3630-1.3620 band on Thursday. Cable’s uptick comes despite the modest bounce in the Greenback, while investors gear up for key data releases on the UK calendar on Friday.

EUR/USD treads water near 1.1670

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$40 trillion debt black hole: Is a financial crisis coming?

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Why long bonds have repriced the cost of money

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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.