Gold Futures: Room for further upside
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CME Group’s flash data for gold futures markets noted traders increased their open interest positions for yet another session on Thursday, this time by around 17.8K contracts. Volume followed suit and went up by around 91.1K contracts, reversing at the same time the previous daily drop.
Gold now targets the all-time high at $2075
Gold prices rose for the third session in a row on Thursday amidst increasing open interest and volume. That said, further gains appears in the pipeline in the very near term and with the immediate target at the record peak at $2075 per ounce troy seen on August 7 2020.
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