Gold Futures: Scope for extra gains

Considering advanced figures from CME Group for gold futures markets, open interest resumed the uptrend and went up by around 4.5K contracts on Wednesday. Volume, instead, reversed the previous daily build and shrank by around 38.2K contracts.

Gold remains supported by $1,660

Gold prices reversed a multi-session decline on Wednesday on the back of rising open interest, which is supportive of further rebound in the veery near term. In the meantime, the $1,660 region continues to underpin the yellow metal for the time being.