Gold Futures: Room For Extra Upside

Traders increased their open interest positions in Gold futures markets by almost 3.5K contracts at the beginning of the week, according to flash data from CME Group. Volume, in the same line, reversed three consecutive pullbacks and went up by around 57.4K contracts.

Gold now targets the 2020 tops
Prices of the ounce troy of the precious metal are approaching the psychological $2,000 mark. Monday’s uptick in Gold was amidst rising open interest and volume, leaving the door open to extra gains and a potential visit to the YTD tops around $2,075.