Gold Futures: Further consolidation looks likely near term Details
Gold Futures: Further consolidation looks likely near term
Open interest in gold futures markets reversed three consecutive daily declines and surged by around 4.7K contracts on Wednesday, according to CME Group's advanced print data, which was released earlier. Alternatively, volume fell dramatically by around 192.8K contracts, marking the greatest single-day loss since February 25.
Gold: Upside remains capped by $1960
The increase in gold prices on Wednesday was accompanied by an increase in open interest, which is suggestive of more advances in the very near future. As a result, the precious metal is projected to remain sidelined for the foreseeable future, with the top end of the range hovering around the $1960 mark.
.jfif "US Dollar Index advances to new cycle tops near 100.50")
