Gold Futures: Rising bets for extra gains

Traders increased their open interest positions in gold futures markets by around 3.6K on Tuesday in light of preliminary figures from CME Group. Volume, instead, partially reversed the previous sharp drop and went up by around 73.2K contracts.

Gold looks to $2,000/oz

Gold started the week/year on a positive footing amidst rising open interest and volume, opening the door to the continuation of the uptrend with the longer run target still at the key $2,000 mark per ounce troy.