Gold Futures: Extra gains on the cards

Pablo Piovano FXStreet

Open interest in gold futures markets resumed the uptrend and rose by around 12K contracts at the end of last week, according to preliminary readings from CME Group. Volume followed suit and advanced by more than 99K contracts after three consecutive daily pullbacks.

Gold poised to extend its rally

Gold prices advanced to new all-time highs past $2075 on Friday. The daily uptick was on the back of rising open interest and volume and leaves the door open to further gains in the very near term. On this, the next hurdle of note appears at the $2100 mark per troy 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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