Gold Futures: Further upside on the cards

Pablo Piovano FXStreet

CME Group’s flash data for gold futures markets noted traders added around 3.3K contracts to their open interest positions on Friday, adding to the ongoing uptrend. Volume, instead, shrank for the second session in a row, this time by around 19.4K contracts.

Gold: Initial hurdle comes near $1930

Friday’s marked advance in gold prices was on the back of rising open interest and suggests that further gains could lie ahead in the very near term. That said, the precious metal faces initial up-barrier at the so far July tops past the $1930 mark 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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