Gold Futures: Extra losses on the cards

Open interest in gold futures markets extended the choppy activity and went up by around 5.3K contracts on Friday, reversing the previous drop, according to advanced readings from CME Group. In the same direction, volume increased by more than 83K contracts after two consecutive daily drops.

Gold: A move to $1,800 is not ruled out

Friday’s negative performance of gold prices was in tandem with rising both open interest and volume, exposing the continuation of the downtrend in the very near-term. That said, the $1,800 mark per ounce emerges as the next key contention area.