Gold Futures: Scope for further upside

Traders added nearly 3.8K contracts to their open interest positions in Gold futures markets, reaching the second consecutive build according to preliminary figures from CME Group. On the other hand, volume shrunk by almost 64K contracts, partially reversing the previous build.

Gold advanced to fresh 2020 highs

Prices of the ounce troy of the precious metal clinched fresh yearly tops on Monday against the backdrop of rising open interest, in turn favouring the continuation of the move up at least in the near term.