Gold Futures: A sustained drop appears not favoured

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Gold Futures: A sustained drop appears not favoured
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CME Group’s flash data for gold futures markets noted traders reduced their open interest positions for the second session in a row on Tuesday, this t

ime by around 2.5K contracts. Volume followed suit and shrank for the third consecutive day, this time by nearly 6K contracts.prices was in tandem with shrinking open interest and volume, which is indicative that a deeper retracement appears not favoured for the time being. Against that, the yellow metal faces an interim resistance around the 100-day SMA near $1945 for the time being.Information on these pages contains forward-looking statements that involve risks and uncertainties.

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