On Wednesday, traders added 9.8K contracts to their open interest holdings, extending the rise that began on July 2, all based on CME Group flash data. After two daily builds in a row, volume decreased by roughly 9.4K contracts.
Gold prices rose sharply on Wednesday, ultimately reaching the crucial 200-day SMA in the $1,820 per ounce troy level. Higher yellow metal prices were accompanied by rising open interest, which should support additional rises in the near term. However, there is a little stumbling block around the 50-day SMA, which is currently at $1,837./n
