Gold Futures: Recovery looks limited

Open interest in gold futures markets shrank for the third session in a row on Monday, this time by around 7.5K contracts according to preliminary readings from CME Group. Volume followed suit and dropped markedly by more than 152K contracts after four daily builds in a row.

Gold: Decent support emerges around $1860

Gold prices started the week with modest gains. Monday’s uptick, however, was on the back of diminishing open interest and volume leaving the current recovery somewhat limited. In the meantime, the yellow metal looks well supported around the $1860 region.