Gold Futures: Recovery could extend further

Traders added around 2.4K contracts to their open interest positions in gold futures markets on Wednesday, according to flash readings from CME Group. Volume, instead, shrunk for the second session in a row, this time by around 10.1K contracts.

Gold looks firmer and re-target $1,800/oz

Gold prices extended the upside on Wednesday amidst rising open interest, opening the door at the same time for the continuation of the corrective upside in the very near-term. That said, the next target of note emerges at the key $1,800 mark per ounce.