Gold Futures: Door open to extra upside

Open interest in gold futures markets went up for the second session in a row on Thursday, this time by just 932 contracts considering preliminary readings from CME Group. In the same line, volume extended the uptrend for yet another session, this time by around 43.3K contracts.

Gold now retargets $2000

Thursday’s move higher in gold prices was amidst rising open interest and volume, allowing for the continuation of the uptrend in the very near term. Against that, the precious metal now looks to retake the key barrier at the $2000 mark per ounce troy.