Gold Futures: Extra gains on the cards

Pablo Piovano FXStreet

Considering advanced prints from CME Group for gold futures markets, open interest increased for the second session in a row on Wednesday, now by around 3.6K contracts. Volume, instead, shrank for the second consecutive session, this time by around 157.3K contracts.

Gold remains focused on the 2023 peak

Gold prices extended their rally on Wednesday, pushing further north of the key $2000 mark per troy ounce. The uptick was accompanied by increasing open interest and allows for the continuation of this trend in the very near term and with immediate target at the YTD top at $2067 (May 4).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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