Gold Futures: Further gains likely near-term

CME Group’s preliminary figures for Gold futures markets noted traders increased their open interest positions by around 8.8K contracts on Thursday. In the same line, volume went up by around 27.7K contracts.

Gold now looks to $1,800

Thursday’s uptick in Gold prices was on the back of rising open interest and volume, opening the door to extra gains in the very near-term. Against this, and with the metal already flirting with the key $1,760 level, further upside is expected to target the $1,800 mark per ounce troy.