Gold Futures: Further upside on the cards

According to preliminary readings from CME Group, open interest in gold futures markets rose for the third day in a row on Tuesday, this time by nearly 8K contracts. In the same line, volume added to the previous advance and climbed by around 113.6K contracts.

Gold: Extra gains likely above $1850

Gold prices extended the uptrend to the $1850 region for the first time since mid-June on Tuesday. The move was amidst rising open interest and volume and exposes the continuation of this move in the very near term. The surpass of the $1850 zone should put bullion en route to the June 2022 high at $1879 (June 13).