Range Markets

Investors increased their open interest positions in Gold futures markets by around 1.9K contracts on Thursday, reversing at the same time two daily pullbacks in a row, all according to preliminary readings from CME Group. In the same line, volume rose sharply by around 125.5K contracts.


The ounce troy of the yellow metal closed in the negative territory on Thursday amidst rising open interest and volume. Against this, a potential deeper pullback is likely in the very near-term, with the initial target at the monthly lows in the vicinity of $1,860 per ounce (August 12).

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