Gold Futures: Scope for extra gains

Open interest in gold futures markets resumed the upside on Tuesday, rising by nearly 4.5K contracts and reversing the previous drop according to advanced data from CME Group. Volume, instead, shrunk by nearly 89.3K contracts after Monday’s build.

Gold remains firm and targets $1,800/oz

The ounce troy of gold advanced on Tuesday amidst rising open interest, which is supportive of the continuation of the underlying uptrend. That said, gold keeps its target at the $1,800 per ounce in the short-term horizon.