Gold Futures: Neutral with caution

Pablo Piovano FXStreet

In light of estimated prints from CME Group, open interest and volume decreased by around 11.1K contracts and nearly 61.4K contracts, respectively, on Thursday.

Gold: Downside looks contained

Prices of the ounce troy of Gold gave some signs of exhaustion near $1,590 this week. Declining open interest and volume against the backdrop of declining prices, however, point to a probable bounce in the short-term horizon, although that hinges mostly on the developments from the Wuhan coronavirus and its (potential) impact on the global economy.

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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