Gold Futures: Further losses likely near-term

Open interest and volume in Gold futures markets rose by around 1.8K contracts and by around 17.3K contracts, respectively, on Friday, according to preliminary readings from CME Group.

Gold approaches $1,800

Friday’s negative price action in Gold was accompanied by increasing open interest and volume, opening the door to a probable correction lower in the very near-term. In the meantime, occasional bullish attempts in the yellow metal remain limited by the key hurdle at the $1,800 mark per ounce troy.