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Gold Futures: Room for extra gains near term
CME Group’s flash data for gold futures markets noted traders added around 12.7K contracts to their open interest positions on Friday, reaching the 5th consecutive daily build. Volume, instead, remained choppy and shrank by around 98.3K contracts.
Gold still targets the $1,800 region
Gold prices extended the sharp rebound on Friday amidst rising open interest. Against that, further upside momentum could motivate the precious metal to challenge the critical hurdle at the $1,800 region per ounce troy. This area coincides with the key 200-day SMA.
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