Gold Futures: Further losses are likely near-term
|Open interest and volume in Gold futures markets increased by just 476 contracts and by around 19.5K contracts, respectively, on Thursday according to preliminary figures from CME Group.
Gold sees interim support near $1,740/oz
Thursday’s price action in Gold was in tandem with rising open interest and volume. That said, the ounce troy of the precious metal closed below the key $1,800 barrier on Thursday and the corrective decline could extend to the 55-day SMA, today at $1,742.
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.