CME Group’s flash data for gold futures markets noted traders added around 3.8K contracts to their open interest positions on Tuesday, adding to Monday’s build. Volume, in the same line, went up by around 20.8K contracts after two consecutive daily drops.
Gold continues to target the 2023 high
The continuation of the weekly recovery in gold appears likely on the back of Tuesday’s advance amidst rising open interest and volume. That said, the yellow metal remains focused on the 2023 peak near $2070 recorded earlier in the month.