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- Gold Futures: Further recovery seems not favoured
Gold Futures: Further recovery seems not favoured
CME Group’s flash data for gold futures markets noted investors trimmed their open interest positions by just 898 contracts after three consecutive daily drops on Thursday. Volume, instead, remained choppy and went up by around 46.6K contracts.
Gold: Next target emerges at the 200-day SMA
Prices of gold bounced off lows near the key $1900 region per troy ounce on Thursday. The move was in tandem with shrinking open interest, which hints at the idea that a more sustained rebound looks not favoured for the time being. On the upside, the next resistance area emerges at the key 200-day SMA, today around $1922.
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