Gold Futures: Extra upside likely

CME Group’s flash data for gold futures markets noted open interest extended the uptrend for yet another session on Monday, this time by around 1.6K contracts. In the same line, volume rose for the second session in a row, now by around 39.2K contracts.

Gold now looks to $2000

Gold prices added to the ongoing recovery on Monday amidst rising open interest and volume. That said, there is scope for the continuation of the upside in the very near term and with the key target emerging at the $2,000 mark per ounce troy.