Gold Futures: Further gains seem likely

Open interest in gold futures markets reversed two consecutive daily builds and increased by just 128 contracts on Thursday, considering preliminary readings from CME Group. Volume followed suit and shrank by around 42.5K contracts after two daily advances in a row.

Gold now looks to $1,800

Gold prices approached the $1,790 mark on Thursday although retreated soon afterwards to close the session with modest gains. The move was on the back of shrinking open interest and volume, allowing for further upside in the very near term at least. Moving forward, the precious metal continues to target the key $1,800 mark per ounce troy.

FX

Articles You May Like

Forexlive Americas FX news wrap: European political turmoil on center stage
Unlocking Apple’s Stock Potential: Technical Signals to Watch
Gold Price Today: Yellow metal opens at Rs 71,650 per 10 grams, Silver at Rs 89,152/kg
Reminder – US markets are closed on Wednesday, June 19th – market hours impact
Gold Price Today: Yellow metal dips by Rs 3,500 from all-time high, silver down by Rs 3,300 in June

Leave a Reply

Your email address will not be published. Required fields are marked *