Gold Futures: Further upside appears contained

Open interest in Gold futures markets shrunk by around 3.1K contracts on Thursday, reversing three consecutive daily builds according to flash data from CME Group. Volume, instead, rose for the third session in a row, this time by around 34.3K contracts.

Gold: Gains seem limited around $1,760

Gold prices charted an inconclusive day on Thursday after hitting weekly tops in the $1,760 area per ounce troy. The move was accompanied by shrinking open interest and rising volume, exposing further consolidation in the very near-term.