Gold Futures: Room for extra upside

CME Group’s preliminary readings for gold futures markets noted open interest shrank by around 2.7K contracts at the beginning of the week. In the same direction, volume dropped by more than 106K contracts.

Gold faces extra gains above $1,830

Gold prices started the week on the backfooting, although the metal managed to keep business above the key $1,800 mark per ounce troy. The move was amidst shrinking open interest and volume, leaving further downside out of favour and instead focusing on the next target at the $1,830 zone for the time being.