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Traders added around 5.7K contracts and volume rose by nearly 61.3k contracts on Monday, according to preliminary figures from CME Group for Gold futures markets.

Gold now targets $1,700/oz

Prices of the ounce troy of the precious metal started the week on a positive tone and the continuation of the move up stays underpinned by rising open interest and volume. That said, the 2020 highs around $1,703 per ounce have now emerged as the next target if the buying pressure persists.