Gold Futures: Room for extra gains

Open interest in gold futures markets rose by just 347 contracts at the beginning of the week, reversing at the same time two consecutive daily pullbacks considering advanced figures from CME Group. In the same line, volume increased by around 110.8K contracts after three daily drops in a row.

Gold now targets the $1,860 region

Gold prices started the week on the positive footing amidst rising open interest and volume. That said, the yellow metal is poised for further gains in the very near term with the next hurdle of note at the Fibo level around $1,860 per ounce troy.