Range Markets

Open interest in Gold futures markets increased for yet another session on Thursday, this time by nearly 2.4K contracts, according to advanced readings from CME Group. Volume, instead, extended the choppy activity and shrunk by around 92.7K contracts.

Gold still targets the $1,800 level

Prices of the ounce troy of the precious metal abandoned the area of recent multi-year peaks near $1,780 (June 24). Thursday’s uptick in gold was amidst rising open interest and a downtick in volume, hinting at the likeliness that further gains should not be ruled out amidst the ongoing consolidative theme.

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