Gold Futures: Further consolidation in the pipeline

Open interest in Gold futures markets shrunk for the third session in a row at the beginning of the week, this time by nearly 2K contracts. Volume, in the same line, went down for the fourth consecutive day, now by 108.1K contracts.

Gold faces extra rangebound

Prices of the yellow metal charted an inconclusive session on Monday amidst shrinking open interest and volume. That said, and in light of the absence of a clear trend, Gold faces some consolidation in the near-term, always below the key $2,000 mark per ounce.