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According to advanced data from CME Group for Gold futures markets, traders added nearly 7.8K contracts to their open interest positions on Tuesday following four consecutive daily pullbacks. In the same line, volume rose by almost 35.5K contracts.

Gold still targets the $1,700 area

Prices of the ounce troy of the precious metal rose markedly on Tuesday amidst rising open interest and volume. That said, the door remains open for the continuation of the move up and a probable visit to the $1,700 mark per ounce, levels last seen in December 2012.