Gold Futures: Further losses not ruled out

Open interest in gold futures markets rose by nearly 8K contracts on Friday, leaving behind the previous day’s pullback, according to preliminary readings from CME Group. Volume, instead, reversed three consecutive daily builds and shrank by around 110.3K contracts.

Gold remains supported by $1,800

Friday’s second drop in a row in prices of gold was amidst rising open interest, which is indicative that further decline remains on the table at least in the very near term. Against that, the $1,800 mark per ounce troy still emerges as a solid contention in case sellers regain control of the market.