Gold Futures: Extra gains look likely

Open interest in gold futures markets rose for the third consecutive session on Friday albeit by just 91 contracts in light of preliminary figures from CME Group. On the other hand, volume reversed two daily builds in a row and shrank by around 77.5K contracts.

Gold appears supported around $1,740

Gold prices bounced off the $1,740 region on Friday amidst a small uptick in open interest, closing the session with decent gains. That said, further upside remains on the card and face an interim hurdle at last week’s peak near $1,790 per ounce troy.