Gold Futures: Further consolidation on the cards
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CME Group’s flash data for gold futures markets noted traders added around 6.1K contracts to their open interest positions on Monday. Volume, instead, shrank for the third consecutive session, this time by around 33.7K contracts.
Monday’s downtick in prices of the ounce troy of gold was on the back of rising open interest and declining volume, which is indicative that further consolidation remains well on the cards for the metal in the very near term and always below the key $2000 mark.
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