According to early readings from CME Group, open interest in gold futures markets decreased for the second session in a row at the end of last week, this time by roughly 2.5K contracts. Instead, volume increased by about 13.3K contracts, reversing the prior day’s decline.

Gold: Next on the downside comes $1900

Friday’s daily gains in gold prices came on the back of shrinking open interest, which hints at the idea that further gains appear not favoured for the time being. In case loses accelerate, the precious metal is expected to meet the next contention of relevance around the $1900 region per troy ounce.

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