According to CME Group’s flash statistics, open interest in gold futures markets grew for the third session in a row on Wednesday, this time by about 3.8K contracts. Volume, on the other hand, decreased by roughly 107.5K contracts, reversing two daily pullbacks in a row.
The increase in gold prices on Wednesday coincided with the continuation of the upswing in open interest, indicating that additional gains are possible. Following a re-test of the $1,800 per ounce troy level, the yellow metal now has its sights set on the 200-day SMA near $1,830./n
