Gold Futures: Uptrend looks unabated

Open interest in Gold futures markets increased for yet another session on Wednesday, this time by around 11.8K contracts according to preliminary data from CME Group. Volume, in the same line, went up for the third session in a row, no by around 133.7K contracts.

Gold targets $1,900/oz and above

The upside momentum in the precious metal remains well and sound, quickly leaving behind the $1,800 barrier is expected to edge higher on the back of rising open interest and volume. That said, the next target for Gold emerges in the $1,910 region per ounce, level last seen in September 2011.