Gold Futures: Further upside in the pipeline

Pablo Piovano FXStreet

CME Group’s flash data for gold futures markets noted open interest rose for the fifth consecutive session on Wednesday, this time by nearly 6.5K contracts. Volume, instead, extended the choppy activity and shrank by around 190.2K contracts.

Gold: A visit to $2,000 in the offing?

Gold resumed the upside on Wednesday amidst rising open interest, indicative of rising bets for the continuation of the uptrend in the very near term at least. Further gains in bullion could now target the $2,000 mark per ounce troy in the longer run.

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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