Gold Futures: Extra weakness not ruled out

Open interest in gold futures markets rose for the third session in a row on Friday, this time by around 1.4K contracts according to preliminary readings from CME Group. Volume, instead, kept the erratic performance well in place and shrank by more than 56K contracts.

Gold could revisit the 2022 low near $1,615

Prices of the ounce troy of gold retreated for the second session in a row on Friday amidst rising open interest. That said, further declines are not ruled out in the very near term and the precious metal could revisit the YTD low near $1,615 per ounce troy (September 28).