Gold Futures: Further losses on the cards

Pablo Piovano FXStreet

According to flash readings from CME Group for Gold futures markets, open interest went up by almost 2.6K contracts, extending the recent choppy trade. Volume, in the meantime, rose for the second session in a row, this time by nearly 30K contracts.

Gold stays capped by $1,750/oz

Gold prices are expected to shed further ground in the short-term following Friday’s pullback amidst rising open interest and volume. That said, the next support of significance emerges at the late March peaks in the $1,640 per ounce troy.

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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