CME Group’s flash data for gold futures markets noted traders added around 5.6K contracts to their open interest positions after six consecutive daily
pullbacks on Friday. Volume followed suit and went up by around 10.3K contracts, partially reversing the previous daily drop.prices extended the multi-session leg lower on Friday. The move was amidst increasing open interest and volume and suggests that extra decline appears on the cards in the very near term. Looking at the longer run, the precious metal faces the next support of note around the key $1800 region per troy ounce.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD is consolidating in a narrow range below 1.0600 in early Europe on Monday. The pair keeps its calm amid a steady US Dollar, higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell's speech in focus. GBP/USD struggles to gain any meaningful traction and oscillates in a narrow trading range.
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