Gold Futures: Door open for extra upside

Open interest in Gold futures markets from CME Group rose by around 8.2K contracts following two daily pullbacks in a row. Volume, instead, shrunk by around 106.1K contracts, reversing at the same time two consecutive daily builds.

Gold still targets $1,850

Gold prices resumed the upside on Thursday amidst rising open interest. That said, the continuation of the rebound appears likely in the very near-term and always with the immediate target at the 200-day SMA, today at $1,847 per ounce troy.