CME Group’s flash knowledge for gold futures markets famous merchants added simply 812 contracts to their open curiosity positions on the finish of final week, including to the earlier every day construct. Volume, as an alternative, dropped for the third consecutive session, this time by round 1.4K contracts.
Gold: Interim hurdle comes on the 55-day SMA
Friday’s continuation of the restoration in gold costs was in tandem with a small uptick in open curiosity, which signifies that additional rebound may nonetheless be in retailer for the yellow metallic within the very close to time period. That stated, the following up barrier of observe comes on the 55-day SMA, in the present day at $1855 per ounce troy.