Gold Futures: Scope for extra decline

Open interest in Gold futures markets rose for the second session in a row on Monday, this time by just 302 contracts in light of preliminary readings from CME Group. On the other hand, volume shrunk for the second consecutive day, now by around 19.4K contracts.

Gold still targets $1,760/oz

Gold prices started the week on the defensive against the backdrop of a small uptick in open interest, which leaves the door open for further pullbacks in the very near-term. In the meantime, extra gains in the precious metal remain so far limited by the $1,760 mark per ounce troy.