Gold Futures: Scope for further losses

Market news

20 October 2022

Gold Futures: Scope for further losses

Open interest in gold futures markets increased for the second session in a row on Wednesday, this time by around 8.5K contracts according to preliminary readings from CME Group. In the same line, volume rose for the second straight session, now by around 18.5K contracts.

Gold could revisit the 2022 low at $1,614

Gold prices dropped markedly on Wednesday amidst rising open interest and volume. That said, further downside is now on the cards and with immediate contention at the YTD low at $1,614 per ounce troy (September 28).

Currencies. Daily history for Thursday, October 20, 2022

Commodities. Daily history for Wednesday, October 19, 2022

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.