Open interest in the gold futures markets shrank by about 2.3k contracts on Friday after four straight daily gains, according to preliminary data from CME Group. Volume followed this trend, falling about 127.2k contracts after posting three consecutive daily gains.
Gold remains supported by $2000
The third daily visit on Friday in a row gold The pullback in prices was driven by falling open interest and volume, drawing strength from further weakness and opening the door to a possible near-term recovery. Meanwhile, solid support for the commodity remains at the key $2,000 a troy ounce level.
Comments are closed.