Gold Futures: Extra rangebound still on the table

Open interest in gold futures markets shrank for the second session in a row on Thursday, this time by just 464 contracts considering preliminary figures from CME Group. In the same line, volume added to the previous drop and went down by around 29.2K contracts.

Gold: Focus remains on the $1,830 region

Thursday’s downtick in prices of the precious metal was amidst shrinking open interest and volume, leaving the door open to extra consolidation in the very near term. In the meantime, occasional bullish attempts in gold stay capped by the $1,830 region per ounce troy.