Gold Futures: Extra advance in the pipeline
|Open interest in gold futures markets resumed the uptrend and went up by more than 9K contracts on Wednesday according to flash data from CME Group. Volume, instead, shrank for the third session in a row, now by around 74.7K contracts.
Gold looks for a test of $1,900
Gold prices reversed Tuesday’s strong pullback and resumed the upside on Wednesday, revisiting the $1,870 area per ounce troy amidst increasing open interest. That said, the continuation of the uptrend to, initially, the $1,900 mark remains a palpable possibility in the very near term.
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