Gold Futures: Further upside in store near term

Considering advanced prints from CME Group for gold futures markets, open interest rose for the fourth consecutive session on Wednesday, this time by around 11.1K contracts. Volume, instead, kept the erratic activity well in place and shrank by around 13.8K contracts, partially reversing the previous daily build.

Gold: Next target at the all-time high

Gold prices extended the recovery further north of the $2000 mark on Wednesday. The strong advance was amidst rising open interest and left the door open to a potential test of the all-time peak at $2075 recorded on August 7 2020.