Gold Futures: Further gains remain on the cards

Open interest in Gold futures markets increased for the third session in a row on Wednesday, this time by nearly 3.5K contracts according to flash data from CME Group. In the same line, volume advanced for the second straight session, now by around 51.8K contracts.

Gold still targets the $2000 mark

Gold prices are extending the choppy trading so far this week. Wednesday’s uptick was on the back of rising both open interest and volume, opening the door for the continuation of the uptrend in the short-term horizon. With that in mind, the $2,000 mark per ounce still emerges as the next relevant target for the yellow metal.