CME Group’s flash data for gold futures markets noted traders increased their open interest positions for the second session in a row on Thursday, this time by around 1.5K contracts. Volume, instead, maintained the choppy activity and shrank by more than 26K contracts following the previous daily build.

Gold: Initial up-barrier emerges around $1980

Thursday’s uptick in gold prices was in tandem with a small increase in open interest, which is suggestive that further gains could still be in store in the very near term. Against that, the next resistance level is expected at the June peaks just above the $1980 mark per troy ounce.