Gold Futures: Scope for further gains

Open interest in gold futures markets extended the uptrend and rose by around 3.7K contracts on Friday according to preliminary readings from CME Group. On the other hand, volume shrank by nearly 45K contracts.

Gold keeps targeting the $1,800 mark

Friday’s small uptick in gold prices was in tandem with rising open interest, allowing for further gains in the very near term. Against this, the yellow metal still targets the key $1,800 mark per ounce troy.