Gold Futures: Further losses appear in store

Open interest in gold futures markets increased for the second session in a row on Friday, this time by nearly 16K contracts according to preliminary readings from CME Group. Volume followed suit and went up by around 67.4K contracts, adding to the previous daily build.

Gold could slip back to $1930

Prices of the ounce troy of gold faded part of the recent advance on Friday. The downtick was on the back of increasing open interest and volume and leaves the door open to further weakness in the very near term. That said, the precious metal could revisit the area of recent lows near $1930.