OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold Futures: Upside looks capped

Traders scaled back their open interest positions by around 12.7K contracts on Tuesday, according to preliminary data from CME Group. Volume, instead, rose for the second session in a row, this time by nearly 150K contracts.

Gold looks capped around $1,650/oz

Prices of the ounce troy of the precious metal appears to have met strong resistance in the $1,650 area. Declining open interest in gold coupled with positive price action hints at the likeliness that further gains look limited around the $1,650 per ounce for the time being, opening the door at the same time for a potential consolidation or correction lower.

Gold: Easy money is a boon – ANZ

Gold regained its safe haven appeal with renewed investment demand, strategists at ANZ Research inform. XAU/USD is trading at 1607.32. Key quotes “The
Read more Previous

USD/CNH: Diminished odds for a move to 7.17 – UOB

FX Strategists at UOB Group now see declining likeliness of USD/CNH to reach the 7.17 level. Key Quotes 24-hour view: “We highlighted yesterday that t
Read more Next
Start livechat