Gold Futures: Further gains remain on the cards

Pablo Piovano FXStreet

CME Group’s advanced figures for gold futures markets noted open interest rose for the second session in a row on Thursday, this time by nearly 2.1K contracts. Volume, instead, extended the downtrend for the fourth straight session, now by around 8.5K contracts.

Gold faces the next hurdle at $1,850

Thursday’s uptick in gold prices was amidst rising open interest, hinting at the idea that further upside is likely in the very near-term. That said, the next key hurdle emerges at the $1,850 mark per ounce, coincident with the 21-day SMA.

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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