CME Group’s flash data for gold futures markets noted open interest increased for the second session in a row on Tuesday, this time by nearly 11K contracts. Volume followed suit and resumed the uptrend, rising by almost 126K contracts, the largest single-day build since July 12.

Gold now targets $1,730

Prices of the ounce troy of gold surpassed (and closed above) the $1,700 mark on Tuesday. The daily advance was on the back of rising open interest and volume and leaves the door open to the continuation of the recovery in the very near term. That said, the next hurdle of note now comes at the October peak around $1,730 (October 4).