Gold Futures: Scope for extra gains

Traders increased their open interest positions in gold futures markets by nearly 1.5K contracts on Thursday, in light of advanced readings from CME Group. In the same line, volume went up by around 1.9K contracts.

Gold: Door open to a test of $1,920

Prices of the ounce troy of gold managed to close Thursday’s session above the $1,900 mark. The move was in tandem with rising open interest and volume, leaving the scenario ripe for further gains. That said, the next target remains at the Fibo level at $1,920.