Gold Futures: Scope for further gains

Open interest in gold futures markets rose by around 1.3K contracts on Monday, partially reversing the previous daily drop according to preliminary readings from CME Group. Volume, instead, shrank for the third session in a row, this time by around 19.5K contracts.

Gold: Immediately to the upside comes $2000

Gold prices started the week with a decent uptick amidst rising open interest, which is supportive of further recovery in the short-term horizon. Next on the upside for the yellow metal appears the key $2000 mark per ounce troy.