Range Markets

CME Group’s flash data for Gold futures markets noted open interest rose for the third consecutive session at the beginning of the week, this time by around 4.4K contracts. Volume, in the same line, prolonged the erratic performance and went up by around 14.6K contracts.

Gold: Next target emerges above $1,900/oz

Prices of the ounce troy of Gold clinched fresh YTD highs around $1,820 amidst rising open interest and volume, leaving the scenario ripe for the continuation of the uptrend, at least in the short-term horizon. That said, there are no resistance levels of not until the August 2011 high near $1,920 per ounce.

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