Gold Futures: Further gains favoured near term

CME Group’s flash data for gold futures markets noted open interest reversed four consecutive daily drops and went up by around 2.5K contracts on Thursday. On the other hand, volume shrank for the second session in a row, this time by just 870 contracts.

Gold now targets $1,800

Gold prices extended the recent recovery on Thursday amidst rising open interest. Against that, the precious metal remained on track to revisit the key area at the $1,800 mark per ounce troy.