- Analytics
- News and Tools
- Market News
- Gold Futures: Further upside looks unconvincing
Gold Futures: Further upside looks unconvincing
Open interest in gold futures markets noted traders reversed three daily builds in a row and shrank by nearly 5K contracts on Wednesday, according to advanced prints from CME Group. Volume, instead, increased for the second consecutive session, now by more than 19K contracts.
Gold appears supported around $1,700
Gold prices charted decent gains after bottoming out near the $1,700 mark per ounce troy on Wednesday. The uptick, however, was on the back of shrinking open interest, leaving the prospects for further gains somewhat curtailed for the time being. In the meantime, the $1,700 region continues to hold the downside in the very near term.
© 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
