Gold Futures: Further upside not ruled out

Open interest in gold futures markets rose for the second session in a row on Thursday, this time by just 969 contracts according to preliminary readings from CME Group. Volume, instead, kept the erratic performance and shrank by around 36.5K contracts.

Gold: Provisional hurdle emerges around $1930

Gold prices rose marginally on Thursday and once again closed above the key $1900 mark. The move was amidst a small raise in open interest and allows for the continuation of the recovery in the very near term. That said, there is an interim up-barrier at the 55-day SMA at $1932 per troy ounce.