Gold Futures: Room for extra gains

Open interest in gold futures markets extended the uptrend for yet another session on Wednesday, this time by around 1.6K contracts according to advanced prints from CME Group. On the other hand, volume shrank by around 40.5K contracts, adding to the previous daily drop.

Gold keeps targeting the $2000 mark

Prices of the ounce troy of gold rose for the sixth consecutive session on Wednesday amidst rising open interest. That said, extra gains could still be in the pipeline for the precious metal and always with the key $2000 mark emerging as the immediate target.