Gold Futures: Extra gains in the pipeline

Traders increased their open interest positions in Gold futures markets by nearly 3.7K contracts on Wednesday, reaching the third build in a row according to preliminary readings from CME Group. In the same line, volume clinched the second consecutive build and rose by almost 46.7K contracts.

Gold shifts the target to $1,800

Gold prices extended the recovery for yet another session on Wednesday amidst rising open interest and volume. That said, further upside seems likely in the very near-term with the target at the key $1,800 mark per ounce troy.