Gold Futures: Room for further upside

Open interest in gold futures markets increased for the third session in a row on Wednesday, this time by nearly 8K contracts considering preliminary readings from CME Group. Volume, instead, reversed the previous build and shrank by around 11.5K contracts.

Gold still eyes a move to 2022 high

Gold extended the uptrend for yet another session on Wednesday, surpassing the $1,830 region amidst rising open interest. That said, the door remains open for the continuation of the strong recovery with the immediate target at the YTD peak at $1,853 per ounce troy.