Open interest in gold futures markets rose by more than 1K contracts after two consecutive daily drops on Thursday according to preliminary readings from CME Group. Volume followed suit and went up by around 12.2K contracts amidst the broad-based erratic performance.
Gold: Further rebound targets $2000 and beyond
Thursday’s decent uptick in gold prices was in tandem with increasing open interest and volume and is indicative that further gains appear likely in the very near term. That said, there are no resistance levels of note until the critical $2000 mark per troy ounce.