Gold futures: Great selling pressure and yet high relative strength - gold price remains robust above $2,000

Gold futures: Great selling pressure and yet high relative strength - gold price remains robust above $2,000

According to a report by www.finanzen.net, there is significant selling pressure in gold futures. Since the end of December, the number of open contracts has fallen by 5.2 percent. Major futures speculators are showing a more skeptical attitude, resulting in an 18.4 percent decline in the net long position. Despite selling in the futures markets, gold prices managed to stay above the $2,000 mark and showed relative strength. On Monday morning, prices for the most actively traded gold futures rose.

Oil prices also rose, influenced by geopolitical events such as the attack on US troops in Jordan and the attack on an oil tanker in the Red Sea. In addition, outages at Russian oil and gas terminals as well as the upcoming OPEC+ video conference are creating a tense mood regarding oil supplies.

These developments show that markets continue to be influenced by geopolitical events and supply concerns. Selling pressure in gold futures could increase due to uncertainty or speculation about the future direction of the markets. When it comes to oil prices, the tense situation in the Middle East region, the OPEC+ video conference and the failures of Russian terminals could further influence prices. Financial professionals need to closely monitor these developments in order to calculate the impact on the market and the financial industry and respond appropriately.