Gold Futures: Further upside in the pipeline

Open interest and volume in Gold futures markets rose on Thursday by around 8.6K contracts and nearly 104.7K contracts according to preliminary data from CME Group.

Gold points to extra gains

Prices of the ounce troy of Gold managed to clear the key barrier T $1,600 and are edging higher amidst new 2020 highs. Rising open interest and volume coupled with positive price action in the precious metal favour the continuation of the move up to, initially $1,685/oz, February 2013 highs.