Gold Futures: Extra decline on the table

Considering advanced prints from CME Group for gold futures markets, open interest rose for the second session in a row on Thursday, this time by just 162 contracts. Volume followed suit and went up by around 35.2K contracts, keeping the ongoing choppiness unchanged.

Gold: Initial support emerges at $1945

Thursday’s marked pullback in gold prices was on the back of rising open interest and volume, opening the door to further weakness in the very near term. That said, the yellow metal is expected to meet initial support around the $1945 level per troy ounce.