Gold Futures: Room for further upside

Open interest in gold futures markets reversed the previous daily drop and went up by around 14.2K contracts on Monday as per flash data from CME Group. Volume, instead, shrank by around 104.5K contracts for the first time so far this year.

Gold now targets the $1,830 zone

Gold prices started the week on an upbeat mood amidst rising open interest. That said, further gains are likely in the very near term with the immediate target at recent highs in the $1,830 region.