Gold Futures: Recovery could lose some traction
|Open interest in gold futures markets rose for the second session in a row on Monday, this time by just 161 contracts according to preliminary readings from CME Group. Volume, instead, shrank for the second straight session, now by around 62.3K contracts.
Gold meets initial resistance around $1930
Gold’s rebound revisited the $1930 region, or multi-day highs, at the beginning of the week. The move was accompanied by a small increase in open interest and quite a marked drop in volume, which opens the door to a potential corrective move in the very near term.
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.