Gold Futures: Further upside in store
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CME Group’s flash data for gold futures markets noted open interest rose for the fifth consecutive session on Thursday, this time by around 3.2K contracts. Volume followed suit and went up for the second straight session, now by around 38.4K contracts.
Gold prices extended the uptrend on Thursday amidst increasing open interest and volume, indicating that extra gains look likely in the very near term. That said, the yellow metal keeps targeting the key $2000 mark per ounce troy for the time being.
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