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- Gold Futures: Extra range bound on the cards – UOB
Gold Futures: Extra range bound on the cards – UOB
Considering advanced prints from CME Group for gold futures markets, open interest shrank for yet another session, this time by around 4.5K contracts. Volume, instead, reversed three consecutive daily pullbacks and went up by around 26.4K contracts.
Gold remains capped by the 200-day SMA
Gold prices charted an inconclusive session on Wednesday against the backdrop of shrinking open interest. In the meantime, further consolidation in the yellow metal remains on the cards, while bullish attempts continue to be capped by the 200-day SMA around $1837.
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