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Traders increased their open interest positions by yet another session on Friday, this time by around 6.7K contracts according to preliminary readings from CME Group. It is worth mentioning that the uptrend is well in place since June 16th. Volume followed suit and went up by nearly 46.8K contracts.

Gold: $1,800 is just around the corner

The upside momentum in prices of the ounce troy of gold looks firm and sustained by rising open interest and volume. That said, a move to the $1,800 level per ounce is increasingly likely in the short-term horizon.