Gold Futures: Door open for extra upside

Pablo Piovano FXStreet

CME Group’s preliminary figures for Gold futures markets noted investors increased their open interest positions for yet another day on Tuesday, this time by around 9.3K contracts. Volume, instead, reversed three consecutive builds and shrunk by almost 39K contracts.

Gold climbs to 2020 highs

The ounce troy of the precious metal is navigating fresh yearly highs near $1,770. Rising open interest coupled with positive price action is supportive of the continuation of the uptrend in the very near term. That said, Gold now targets the $1,800 mark per ounce.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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