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- Gold Futures: Downtrend short lived?
Gold Futures: Downtrend short lived?
Considering flash data from CME Group for gold futures markets, open interest shrank by around 8.3K contracts on Monday, partially reversing the previous day’s build. In the same line, volume dropped for yet another session, this time by around 170.6K contracts.
Gold: Further downside could retest $1900
Gold prices extended the downtrend at the beginning of the week amidst shrinking open interest and volume. Against that, a deeper pullback remains out of favour, while decent contention is seen around the monthly low at $1900 per ounce troy (March 1).
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