Gold Futures: Scope for extra gains

Traders increased their open interest positions by around 1.2K contracts on Wednesday, reversing the previous daily drop, according to flash data from CME Group. In the same line, volume reversed four consecutive pullbacks and rose by around 78.3K contracts.

Gold still targets the $2,000 barrier

Wednesday’s uptick in Gold prices was amidst rising open interest and volume, opening the door to the continuation of the rebound in the short-term horizon and always with the initial target at the $2,000 per ounce.