Range Markets

Open interest in Gold futures markets reversed the previous drop and rose by around 1.9K contracts on Friday according to flash data from CME Group. On the other hand, volume shrunk sharply by around 126K contracts after four builds in a row.

Gold now targets the key $2,000/oz mark

Prices of the ounce troy of Gold remain on the rise and surpassed the key $1,900 mark to clinch all-time highs around $1,945 during early trade on Monday. Rising open interest amidst a positive performance is indicative that further upside remains in the pipeline. That said, Gold could well be on its way to test the critical barrier at the $2,000 level per ounce in the short-term horizon.

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