Gold Futures: Further gains in the pipeline

Pablo Piovano FXStreet

CME Group’s flash data for gold futures markets noted traders added around 7.5K contracts to their open interest positions on Thursday, reversing at the same time the previous daily drop. Volume followed suit and went up by around 68.3K contracts after three daily pullbacks in a row.

Gold and the hunt for $2000

Gold prices rose to multi session highs just above the $1980 mark per troy ounce on Thursday. The uptick was on the back of increasing open interest and volume, leaving the door to open to extra gains in the very near term. Against that, the key barrier for bulls still emerges at the $2000 mark.

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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