Gold Futures: Further upside not ruled out

Pablo Piovano FXStreet

Open interest in gold futures markets rose for the second session in a row on Thursday, this time by just 969 contracts according to preliminary readings from CME Group. Volume, instead, kept the erratic performance and shrank by around 36.5K contracts.

Gold: Provisional hurdle emerges around $1930

Gold prices rose marginally on Thursday and once again closed above the key $1900 mark. The move was amidst a small raise in open interest and allows for the continuation of the recovery in the very near term. That said, there is an interim up-barrier at the 55-day SMA at $1932 per troy ounce.

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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