Gold Futures: Room for extra recovery

Open interest in gold futures markets increased for the third consecutive session on Thursday, this time by just 929 contracts according to preliminary figures from CME Group. On the other hand, volume shrank for the second straight session, now by around 4.5K contracts.

Gold still targets $1,800

Gold prices extended the rebound amidst rising open interest on Thursday. That said, there is room for the continuation of the upside in the yellow metal to, initially, the key $1,800 mark per ounce troy.