CME Group’s flash data for the gold futures markets showed traders added nearly 6,000 contracts to their open positions on Monday after two consecutive daily pullbacks. Volume followed suit, rising by about 42.2k contracts while also reversing two consecutive daily declines.
Gold is now targeting $1,735
gold prices extended the recovery and flirted with the key $1,700 barrier earlier in the week. The uptrend was driven by rising open interest and volume, leaving the door open for additional gains in a very short time frame and with the immediate target now at the September high of $1,735 (12th September).
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