Open interest in Gold futures markets shrunk by around 2.6K contracts on Thursday, partially reversing the previous daily build according to preliminary readings from CME Group. In the same line, volume went down by around 11.6K contracts, extending the choppiness seen as of late.
GOLD MEETS STRONG HURDLE AROUND $1,800
The upside momentum in Gold met a tough nut to crack around the $1,800 mark per ounce troy so far. Thursday’s downtick, however, was on the back of shrinking open interest and volume, leaving the door open to another attempt to break that key resistance area in the very near-term.