Gold Futures: Further gains remain in store

Pablo Piovano FXStreet

Open interest in gold futures markets rose for yet another session on Friday, this time by around 12.6K contracts according to preliminary readings from CME Group. Volume, instead, reversed two consecutive daily builds and dropped by nearly 30K contracts.

Gold: The $2000 mark looks closer

Gold prices advanced for the second session in row last Friday. The move was amidst rising open interest, which remains supportive of further upside in the very near term. The moderate drop in volume, however, could prompt some corrective move/consolidation as well, although the broader focus remains on the key $2000 per ounce troy.

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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