Gold Futures: Further gains still on the cards

CME Group’s advanced data for Gold futures markets noted traders added nearly 3.2K contracts to their open interest positions on Thursday, reversing the previous drop. In the same line, volume went up by almost 44.9K contracts after two consecutive pullbacks.

Gold points to a visit to $1,700/oz

Prices of the ounce troy of Gold edged higher on Thursday amidst rising open interest and volume, allowing for further gains in the short-term horizon. That said, the $1,700 mark, levels last seen in December 2012, still remains on the horizon.