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Gold Futures: Scope for extra gains
Abstract：Open interest in gold futures markets increased by around 35.5K contracts on Monday
Gold Futures: Scope for extra gains
Open interest in gold futures markets increased by around 35.5K contracts on Monday, resuming the uptrend after Fridays pullback an all according to preliminary data from CME Group. In the same line, volume went up by nearly 54K contracts after three consecutive daily drops.
Gold remains capped by the $1,850 region
Prices of gold recorded decent gains on Monday amidst increasing open interest and volume, which is indicative that further gains could be in the pipeline in the very near term. That said, the next significant hurdle for the precious metal remains at recent peaks around $1,850.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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