Tuesday, November 21, 2023 1:45 AM EST
Image Source: Pixabay
Open interest in gold futures markets increased by around 3.2K contracts following the previous daily drop on Monday, according to preliminary readings from CME Group. Volume followed suit and kept the erratic performance, this time rising by more than 63K contracts.
Gold: Next on the upside comes $2000
Monday’s bounce in gold prices off the $1965 level was accompanied by rising open interest and volume and suggests that further recovery appears in store for the yellow metal in the very near term. That said, the next up-barrier remains at the key $2000 mark per troy ounce.
More By This Author:
EUR/USD Price Analysis: Above 1.0945 Comes 1.1000 Gold Futures: Further Consolidation On The Cards Crude Oil Futures: Further Recovery Not Favored
Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...
more
Disclosure: Information on this article 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.
less
How did you like this article? Let us know so we can better customize your reading experience.