Gold Futures: Room for extra upside

Pablo Piovano FXStreet

Open interest in gold futures markets went up for yet another session according to preliminary data from CME Group on Thursday, this time by around 5.3K contracts. Volume followed suit and rose by around 110.5K contracts, reversing the previous daily drop.

Gold now targets monthly highs near $1,915

Thursday’s uptick in gold prices was on the back of rising open interest and volume, exposing the continuation of the uptrend in the very near term with the immediate target at the June peaks around $1,915 per ounce troy (June 1).

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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