Gold Futures: Still scope for extra gains

Pablo Piovano FXStreet

Open interest in gold futures markets rose by just 140 contracts on Wednesday according to preliminary readings from CME Group. In the same line, volume went up by around 45.7K contracts, keeping the erratic performance well in place for the time being.

Gold: Next up-barrier emerges around $1987

Gold prices added to the previous daily gains on Wednesday. The move was on the back of increasing open interest and volume and is supportive of extra upside in the very near term. Against that, the immediate target appears at the July high at $1987 (July 20).

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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