Gold Futures: Scope for extra losses
…
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)]
Open interest in gold futures markets shrank by around 1.6K contracts on Friday after two consecutive daily pullbacks, according to preliminary readings from CME Group. Volume followed suit and rose for the fourth session in a row, this time by around 16.6K contracts.
Friday’s strong drop in gold prices below the $1,650 region was amidst rising open interest and volume, leaving the door open to the continuation of the leg lower and with the immediate target at the $1,600 mark per ounce troy.
[/s2If]
Join Our Telegram Group
