Gold Futures: Room for further rebound

Open interest in Gold futures markets rose by around 8.8K contracts after two consecutive daily drops on Wednesday, according to flash data from CME Group. In the same line, volume went up by more than 4K contracts, extending the erratic activity.

Gold now looks to $1,800 and above

Gold prices extended the recovery and closed the session just below the key $1,800 mark per ounce troy amidst rising open interest and volume on Wednesday. That said, the door remains open for the continuation of the uptrend in the very near-term.