Market Report: Gold’s Comex Open Interest Bullish

by Alasdair MacLeod
Gold Money

This week, gold and silver consolidated at established support levels after their recent slide, having recently tested the $1350 and $16.20 respective supply levels. In European trade this morning (Friday) gold was trading at $1303, up $10 from last Friday’s close, and silver was trading at $15.36, up five cents. Comex volumes for gold were healthy rather than spectacular and for silver were moderate.

[…] It is notable that gold’s open interest on Comex has increased by 65,000 contracts in the last eight trading sessions, the equivalent of 202 tonnes. This is despite the April contract beginning to wind down, and indicates firm buying by hedge funds, some of which have been accumulating longer-dated futures. At the same time, the put/call ratio on June options is two to one in favour of puts, with not much of note in the other series.

Continue Reading at GoldMoney.com…

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  

  

  

Time limit is exhausted. Please reload the CAPTCHA.