Gold Futures: Further recovery in the pipeline

Open interest in gold futures markets reversed the recent downtrend and rose by around 3.2K contracts on Friday considering flash figures from CME Group. Volume followed suit and went up by around 10.3K contracts, partially reversing the previous drop.

Gold remains supported by $1,760

Gold prices closed the week on a positive footing amidst rising open interest and volume. Against that, the yellow metal keeps targeting the key $1,800 mark per ounce troy in the very near term. On the downside, there is still strong contention in the $1,760 region.