Gold Futures: Scope for further rangebound

Traders increased their open interest positions for the second day in a row on Thursday, this time by around 1.2K contracts in light of flash data from CME Group. Volume, in the same line, reversed two consecutive pullbacks and rose by around 16.3K contracts.

Gold: Upside limited by $1,740/45

Prices of the ounce troy of gold keep trading within a consolidative mood amidst rising open interest. That said, only a break above the $1,740/45 band per ounce should pave the way for extra gains in the near-term.