Gold Futures: Further losses on the cards

Pablo Piovano FXStreet

Considering advanced prints from CME Group for gold futures markets, open interest increased for the second session in a row on Monday, this time by around 1.3K contracts. Volume, instead, shrank by around 43.6K contracts amidst the ongoing choppy performance.

Gold: On its way to $1800?

Gold prices extended its marked decline for yet another session on Monday. The move was against the backdrop of rising open interest, which is indicative that further losses could still be in store for the commodity in the very near term. The next contention of note is expected around the 2023 low at $1804 per troy ounce (February 28).

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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