- Analytics
- News and Tools
- Market News
- Gold Futures: Downtrend could be losing traction
Gold Futures: Downtrend could be losing traction
Open interest in gold futures markets shrank for the third session in a row on Friday, this time by around 14.1K contracts according to flash data from CME Group. In the same line, volume dropped for the second consecutive session, now by around 164.5K contracts.
Gold looks supported around $1,800
Gold remained under pressure and dropped significantly in past sessions after hitting new peaks past the $1,850 mark per ounce troy (January 25). Friday’s downtick was on the back of shrinking open interest and volume, which could prompt some loss of downside momentum in the yellow metal. That said, the precious metal appears initially supported around the $1,780 region so far.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
