Gold Futures: Recovery could lose some traction

Open interest in gold futures markets rose for the second session in a row on Monday, this time by just 161 contracts according to preliminary readings from CME Group. Volume, instead, shrank for the second straight session, now by around 62.3K contracts.

Gold meets initial resistance around $1930

Gold’s rebound revisited the $1930 region, or multi-day highs, at the beginning of the week. The move was accompanied by a small increase in open interest and quite a marked drop in volume, which opens the door to a potential corrective move in the very near term.