Gold Futures: Scope for further advance
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
CME Group’s flash data for gold futures markets noted traders added just 781 contracts to their open interest positions on Monday, reversing the previous marginal drop. Volume, instead, shrank for the second session in a row, this time by nearly 4K contracts.
Gold prices extended the recovery at the beginning of the week, briefly testing the $1,735 level just to ease part of that advance later in the session. The daily uptick was amidst a small increase in open interest, which could allow for the continuation of the bounce in the very near term. The decline in volume could, however, slow the pace of the recovery. The yellow metal should face the next hurdle at the weekly high at $1,765 per ounce troy (August 25).
[/s2If]
Join Our Telegram Group
