Open interest in Gold futures markets rose by nearly 3K contracts at the end of last week according to preliminary data from CME Group. On the other hand, volume retreated for the second session in a row, this time by around 104.1K contracts.
Gold now targets $1,992/oz
Prices of Gold edged higher on Friday amidst rising open interest, opening the door to the continuation of the recovery. That said, the next target of relevance still emerges at the monthly tops around $1,992 per ounce in the short-term horizon.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.