Gold Futures: No change to the neutral stance

Pablo Piovano FXStreet

Open interest in gold futures markets shrank by just 958 contracts after two consecutive daily pullbacks considering flash data from CME Group. On the other hand, volume extended the erratic activity and rose by around 53.1K contracts.

Gold faces further consolidation near term

Gold traded within a narrow range on Tuesday, keeping the range bound theme well in place for yet another session. The small drop in open interest plays against further upside in the very near term and leaves intact the prospect for further consolidation for the time being.

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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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