Gold Futures: Extra gains on the cards

Traders increased their open interest positions for yet another session on Thursday, this time by around 10.9K contracts, according to preliminary readings from CME Group. In the same line, volume rose for the third consecutive session, now by nearly 74.8K contracts.

Gold seen testing the 2020 high near $1,750/oz

Thursday’s positive price action in the ounce troy of the precious metal was accompanied by rising open interest and volume, signalling that further upside could be lying ahead in the near term. That said, gold could attempt to re-visit the yearly highs around $1,750 per ounce in the next sessions.