Gold Futures: Extra decline not ruled out

Open interest in gold futures markets rose by just 375 contracts for the first time since February 2 on Monday, according to preliminary readings from CME Group. Volume, instead, shrank for the second consecutive session, this time by nearly 25K contracts.

Gold could slip back to the $1800 region

Gold prices started the week on the defensive. Despite the small uptick in open interest, there is room for further weakness in the very near term and with the next target of note at the key $1800 region per ounce troy.