- Analytics
- News and Tools
- Market News
- Gold Futures: Further downtrend looks unlikely
Gold Futures: Further downtrend looks unlikely
CME Group’s flash data for gold futures markets noted open interest shrank for the fourth consecutive session on Tuesday, this time by around 16.2K contracts. Volume, on the other hand, went up by around 1.4K contracts after two daily drops in a row.
Gold faces extra consolidation very near term
Gold prices extended its weekly correction on Tuesday, although the downtick was on the back of shrinking open interest. That said, while extra losses appear somewhat not favoured in the very near term, much of the short-term direction hinges on the Fed’s decision on rates later on Wednesday. So far, the $1,680 area is expected to hold the downside for the time being.
© 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
