GOLD FUTURES: SCOPE FOR EXTRA GAINS

Open interest in gold futures markets rose for the second session in a row on Wednesday, this time by around 4.2K contracts considering preliminary readings from CME Group. On the other hand, volume extended the erratic activity and dropped by around 66.1K contracts.

GOLD LOOKS TO RETAKE $1,800

Gold prices rebounded from the $1,750 area and charted a positive session on Wednesday. The bounce was on the back of rising open interest, opening the door to the continuation of the rebound in the very near term. That said, the next hurdle of note aligns at the $1,800 mark per ounce troy.



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