Investors added around 9.6K contracts to their open interest positions at the beginning of the week according to preliminary data from CME Group. In the same line, volume increased by around 158.1K contracts following three consecutive daily pullbacks.
Gold approaches the $2,000 mark
Gold started the year on the positive mood and further upside appears on the cards amidst higher prices and rising open interest and volume. If the November peak at $1,965 is cleared, then the focus of attention should shift to the critical $2000 mark per ounce.
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