Gold Futures: Further upside in the pipeline

Open interest in Gold futures markets increased for the second consecutive session on Monday, this time by nearly 3.2K contracts according to flash data from CME Group. In the same line, volume went up by around 1.4K contracts, partially reversing the previous drop.

Gold still targets $1,800/ oz

The positive price action in the ounce troy of the precious metal was accompanied by rising open interest and volume on Monday, all signalling that further upside is likely and always with the target at the key barrier at $1,800.