- Analytics
- News and Tools
- Market News
- Gold Futures: Some consolidation looks likely
Gold Futures: Some consolidation looks likely
Open interest in gold futures markets rose for the second session in a row on Friday, this time by just 270 contracts according to preliminary readings from CME Group. Volume, instead, extended the ongoing choppiness and shrank by around 26.8K contracts.
Gold appears supported around $1,680
Gold prices retested the upper end of the range near $1,730 on Friday, just to give away part of those gains afterwards. The move was accompanied by a small increase in open interest and a marked retracement in volume, which could allow for some extra gains in the very near term although always within the prevailing range bound theme. In the meantime, the $1,680 region still emerges as decent contention.
© 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
