Gold Futures: Room for further upside

CME Group’s flash data for Gold futures markets noted traders increased their open interest positions by nearly 7.5K contracts on Tuesday. Volume, in the same line, reversed the recent downtrend and went up by more than 54K contracts.

Gold could re-test $1,760

Tuesday’s advance in Gold prices was on the back of rising open interest and volume, which is indicative that extra gains now appear on the cards. Against this, the $1,760 mark per ounce troy now emerges as the next target of note in the near-term.