Gold Futures: Further losses appear unfavoured

Preliminary figures for Gold futures markets from CME Group noted open interest decreased by nearly 4.7K contracts at the beginning of the week. Volume, instead, reversed two consecutive daily pullbacks and rose sharply by around 226.8K contracts.

Gold remains capped by the $1,990 region

Prices of the ounce troy of gold dropped markedly on Monday, briefly testing fresh multi-week lows in the sub-$1,900 region albeit regaining composure soon afterwards. The move, however, was on the back of shrinking open interest, leaving the likeliness of extra losses somewhat flat in the very near-term.