Considering advanced prints from CME Group for gold futures markets, open interest increased for the second session in a row on Tuesday, this time by around 5.5K contracts. Volume, instead, shrank for the second straight session, this time by nearly 42K contracts.
Gold faces the next hurdle at $2000
Tuesday’s decent uptick in gold prices came in tandem with rising open interest, which is indicative that extra upside appears in store in the very near term. Against that, the precious metal is now expected to retarget the key barrier at $2000 per troy ounce.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.