Gold Futures: Downside loses traction

Open interest in gold futures markets shrunk for the fifth consecutive session on Thursday, this time by nearly 1.1K contracts according to flash data from CME Group. In the same line, volume went down for the second straight session, now by around 35.7K contracts.

Gold meets the $1,760 support

Gold prices navigate the area of yearly lows around $1,760. Thursday’s downtick was on the back of shrinking open interest and volume, hinting at the idea that further retracement could be losing momentum.