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Gold Futures: Scope for further correction
Considering advanced prints from CME Group for gold futures markets, traders increased their open interest positions for the second session in a row on Thursday, this time by around 2.4K contracts. On the other hand, volume reversed two consecutive daily builds and shrank by around 40.4K contracts.
Gold: Gains appear limited just above $1,800
Gold prices edged lower for the second session in a row on Thursday amidst rising open interest, which is indicative that extra weakness could be in store in the very near term. In the meantime, the $1,800 region continues to emerge as the immediate magnet for gold bulls.
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