Gold Futures: Scope for extra gains

Open interest in Gold futures markets increased for the fourth consecutive session on Wednesday, this time by around 4.2K contracts according to preliminary figures from CME Group. In the same line, volume went up for the third day in a row, now by around 66.2K contracts.

Gold poised to continue the upside

Prices of the ounce troy of Gold finally reached and surpassed the key $1,800 barrier on Wednesday. The move up should have further legs supported by increasing open interest and volume.