Thursday’s uptick in gold prices was on the back of rising open interest and volume, exposing the continuation of the uptrend in the very near term with the immediate target at the June peaks around $1,915 per ounce troy (June 1).
Open interest in gold futures markets went up for yet another session according to preliminary data from CME Group on Thursday, this time by around 5.3K contracts. Volume followed suit and rose by around 110.5K contracts, reversing the previous daily drop.
Written by FTG, Author from Investing
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