Gold Futures: Still room for extra gains

Open interest in Gold futures markets rose by nearly 3K contracts at the end of last week according to preliminary data from CME Group. On the other hand, volume retreated for the second session in a row, this time by around 104.1K contracts.

Gold now targets $1,992/oz

Prices of Gold edged higher on Friday amidst rising open interest, opening the door to the continuation of the recovery. That said, the next target of relevance still emerges at the monthly tops around $1,992 per ounce in the short-term horizon.