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Gold Futures: Extra gains still on the cards
Open interest in gold futures markets extended the uptrend for the sixth session in a row on Tuesday, this time by nearly 7K contracts according to preliminary readings from CME Group. Volume, instead, reversed two consecutive daily pullbacks and dropped by around 6.5K contracts.
Gold remains focused on $2000
Gold prices remained on the rise on Tuesday amidst rising open interest, which is indicative that extra gains are likely in the very near term. That said, the precious metal keeps the attention on a test of the key $2000 mark per ounce troy for the time being.
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