Home Gold Futures: Extra gains remain on the cards

Gold Futures: Extra gains remain on the cards

Updated: 18 May. 2020 | 06:57

Open interest in Gold futures markets rose for the fourth consecutive session on Friday, this time by around 4.1K contracts according to FX Strategists at UOB Group. Volume, instead, went down for the second straight session, now by around 10.8K contracts.

Gold in multi-year highs above $1,750/oz

The ounce troy of the precious metal is trading in levels last seen in October 2012 around $1,760 at the beginning of the week. Further gains remains supported by rising open interest and allow for a potential move to the boundaries of $1,800 mark per ounce (October 2012 peak).

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