Gold Futures: Potential for extra gains near term
Open interest in gold futures markets rose by 768 contracts on Friday, reaching the second consecutive daily build according to flash data from CME Group. In the same line, volume went up by around 9.7K contracts, reversing four pullbacks in a row.
Gold now looks to $1,800
Friday’s advance in gold prices was in tandem with rising open interest and volume, allowing for extra gains in the very near term and with the immediate target of the current recovery at the key $1,800 mark per ounce troy.
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