- Analytics
- News and Tools
- Market News
- Gold Futures: A deeper pullback seems out of favour
Gold Futures: A deeper pullback seems out of favour
Open interest in gold futures dropped for the fourth session in a row on Wednesday, this time by around 2.1K contracts according to preliminary readings from CME Group. volume followed suit and shrank by around 3.5K contracts, partially reversing the previous build.
Gold remains supported by the $1930 region
Gold prices extended the downtrend on Wednesday and probed the $1940 area. The downtick, however, was on the back of shrinking open interest and volume, suggesting that a more sustained decline appears unlikely for the time being. So far, there seems to be decent support around $1930 per troy ounce.
© 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
