Gold Futures: Extra gains appear on the cards
|Open interest in gold futures markets increased by around 10.1K contracts on Tuesday, reversing at the same time three consecutive daily pullbacks according to preliminary readings from CME Group. Volume, instead, shrank by around 39.8K contracts after two daily builds in a row.
Gold: Next target comes at the 2023 top
Gold prices extended the uptrend north of the $2000 mark on Tuesday. The move was on the back of rising open interest and is indicative that the continuation of the upbeat mood remains in the pipeline in the very near term. Against that, the next target of note for the yellow metal emerges at the 2023 peak of $2067 per troy ounce (May 4).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.