Traders increased their open interest positions for the second straight session on Thursday, this time by around 1.8K contracts in light of advanced data from CME Group. Volume, in the same line, extended the erratic performance and rose by nearly 7K contracts.

Gold seen re-visiting the 2020 highs near $1,750/oz

Gold prices surpassed (and closed above) the $1,700 mark per ounce once again on Thursday amidst rising open interest and the continuation of the erratic activity in volume. Against that, a re-visit to the YTD highs near $1,750/oz should not be ruled out in the short-term horizon.