Range Markets

Open interest and volume in gold futures markets shrunk for the second session in a row on Thursday, this time by almost 2.7K contracts and by nearly 2K contracts, respectively.


Prices of the ounce troy of gold extend the recovery in the second half of the week and flirt with the $1,900 level already. However, Thursday’s positive price action was sustained by short covering – as seen by diminishing open interests and volume – hinting at the idea that a correction lower could be shaping up in the very near-term.

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