Gold Futures: Scope for extra gains

Traders added around 5.7K contracts and volume rose by nearly 61.3k contracts on Monday, according to preliminary figures from CME Group for Gold futures markets.

Gold now targets $1,700/oz

Prices of the ounce troy of the precious metal started the week on a positive tone and the continuation of the move up stays underpinned by rising open interest and volume. That said, the 2020 highs around $1,703 per ounce have now emerged as the next target if the buying pressure persists.