Gold Futures: Further recovery in the pipeline

Open interest in gold futures markets reversed the recent downtrend and rose by around 3.2K contracts on Friday considering flash figures from CME Group. Volume followed suit and went up by around 10.3K contracts, partially reversing the previous drop.

Gold remains supported by $1,760
Gold prices closed the week on a positive footing amidst rising open interest and volume. Against that, the alpha-beta brass keeps targeting the key $1,800 mark per ounce troy within the very near term. On the downside, there’s still strong contention within the $1,760 region.