Gold Futures: Extra gains likely near-term

In light of advanced data for Gold futures markets, traders added around 1.1K contracts to their open interest positions in Friday, as per CME Group’s report. Volume, too, went up by almost 13.1K contracts.

Gold now targets the Fibo level at $1,574

The ounce troy of the precious metal is seen extending its upside amidst Friday’s rising open interest and volume. That said, the next target emerges at the Fibo retracement (of the December rally) at $1,574.21/oz.