Gold Futures: Further gains in the pipeline

Open interest in gold futures markets increased for the fourth consecutive session on Tuesday, this time by around 11.2K contracts considering preliminary readings from CME Group. In the same line, volume went up by around 43.7K contracts, extending the erratic performance recorded as of late.

Gold looks to surpass $1,830

Gold prices met the key resistance hurdle in the $1,830 region per ounce troy on Tuesday. The recovery in the precious metal was once again in tandem with rising open interest, which remains supportive of further gains in the very near term.