Gold Futures: Door open for extra gains

Traders increased their open interest positions in Gold futures markets by around 5.6K contracts at the beginning of the week following two consecutive daily pullbacks, according to flash data from CME Group. Volume, in the same line, went up by around 217.5K contracts.

Gold now looks to $2,000/oz

The ounce troy of Gold reached fresh all-time highs on Monday around $1,980. Rising open interest and volume appears to pave the way for the continuation of the uptrend with the next target at the key $2,000 mark per ounce in the near-term.

Add a comment