Open interest in Gold futures markets shrunk for the fifth consecutive session on Friday, this point by around 9.2K contracts considering preliminary readings from CME Group. within the same line, volume went down for the third session during a row, now by around 48.3K contracts.
Gold still targets the $2,000 mark
The rally within the valuable remains well and sound thus far . Friday’s uptick, however, was on the rear of shrinking open interest and volume, opening the door to some corrective move within the very near-term. This view is additionally underpinned by the present overbought conditions of the metal. within the longer run, gold keeps targeting the psychological $2,000 mark per ounce.
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 will not in any way encounter as a recommendation to shop for or sell in these assets. you ought to do your own thorough research before making any investment decisions. FXStreet doesn’t in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also doesn’t guarantee that this information is of a timely nature. Investing in Open Markets involves an excellent deal of risk, including the loss of all or some of your investment, also as emotional distress. All risks, losses and costs related to investing, including total loss of principal, are your responsibility. The views and opinions expressed during this article are those of the authors and don’t necessarily reflect the official policy or position of FXStreet nor its advertisers. The author won’t be held liable for information that’s found at the top of links posted on this page.