fmx | metals | connect - Rising gold prices, open interest reflects new buying in July

Categories:: None

Tools

Data Reports:: market snapshot; energy >> crude report; energy >> options report; energy >> natural gas report; commodities >> metals report; weather >> full report

<< Gold Set for Weekly Drop as European Leaders Try to Stem Greek Debt Crisis | Copper Inventories in Shanghai Advance to Two-Month High >>

Rising gold prices, open interest reflects new buying in July

July 22 2011, 08:55

FMX|Connect- WWW.FMXConnect.com (Reported on 7/22/2011)

Rising gold prices, open interest reflects new buying in July

Source: CommodityOnline.com

The run-up to record high prices for Gold this month has been accompanied by a double-digit percentage increase in futures open interest, and that’s a short-term bullish indicator, analysts said.

It shows enthusiasm for the market by new participants, as well as enough confidence in still-higher prices for traders to hang onto positions overnight, they said. To read full article, click here.

To view our exchange reports and articles on your PDA or mobile device, click here.

-----

About FMX: FMX Connect is an information, data, and analytics portal for Commodities. The portal provides an all-in-one package including essential market data, independent third party research, industry news, and commodity trading tools. FMX Connect provides efficient, effective, and thorough data that bridges all aspects of commodities onto one screen. The Result; A user friendly application for hedge fund traders, OTC brokers, individual investors, and industry participants.

Note: The information presented, while from sources generally believed to be reliable, is not guaranteed and may not be complete. FMX | Connect makes no representations or warranties regarding the correctness of any opinions or information. Past results are not necessarily indicative of future results. Nothing in this report should be construed as a representation to buy or sell shares, futures or options, which contain considerable risks. For internal client distribution only. Any reproduction, re-transmission, or distribution of this report without permission is prohibited. Media correspondents or reporters may not quote any one page or section in its entirety and must attribute all quotes, ideas or concepts herein. Copyright FMX | Connect, ©2009-2011. All rights reserved.