Gold Futures: Scope for further upside

Investors increased their open interest positions for the fourth consecutive session on Tuesday, this time by around 11.3K contracts according to flash figures from CME Group. Volume followed suit, reaching the second build in a row, now by around 114.6K contracts.

Gold now looks to $1,900/oz and above

Another day, another yearly tops in the precious metal. Rising open interest and volume coupled with positive price action in Gold leave the door wide open for the continuation of the move up with the next target emerging at the $1,910 area, (August 2011 highs).