- Analytics
- News and Tools
- Market News
- Gold Futures: Green light for further gains
Gold Futures: Green light for further gains
Open interest in gold futures markets left behind four consecutive daily drops and rose by around 6.3K contracts on Wednesday according to preliminary readings from CME Group. Volume followed suit and increased for the second day in a row, now by around 14.4K contracts.
Gold: Overbought condition prompts some caution
Gold prices tested the $1950 region per ounce troy on Wednesday on the back of rising open interest and volume, suggesting that extra upside remains well in store for the time being. However, the precious metal entered the overbought territory, therefore a potential corrective move could also be in line. Next on the upside in the medium term still emerges the key $2000 mark.
© 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
