CME Group’s flash data for gold futures markets noted open interest increased for the third session in a row on Wednesday, this time by around 2.3K contracts. Volume followed suit and went up for the second straight session, now by more than 2K contracts.

Gold focuses on $1,700 and beyond

Wednesday’s uptick in gold prices was on the back of rising open interest and volume and hints at the probability that further upside could be in the pipeline in the short-term horizon. That said, the next target of note emerges at the $1,700 barrier ahead of the October peak around $1,730 (October 4).