Gold Futures: Recovery poised to advance further
|Open interest in god futures markets increased by around 1.9K contracts and reversed six consecutive daily pullbacks on Monday, according to flash data from CME Group. In the other direction, volume resumed the downtrend and shrunk by around 32.5K contracts.
Gold now looks to $1,860
Prices of the ounce troy of gold met decent support in the $1,760 region so far. The rebound from that level managed to regain the key $1,800 mark per ounce and now looks to re-visit recent tops in the $1,860 zone on the back of Monday’s rising open interest.
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