Considering advanced prints from CME Group for gold futures markets, open interest increased for the second session in a row on Wednesday, this time by around 5.5K contracts. Volume, instead, shrank by around 34.3K contracts after the previous daily build.

Gold: Next on the upside comes $1987

Gold prices extended the recovery for the third consecutive session and flirted with the $1950 region on Wednesday. The daily uptick was on the back of rising open interest and this is indicative that extra gains appear on the cards in the very near term. That said, the next target of note for the precious metal turns up at the July high of $1987 per troy ounce (July 20).