Gold Futures: Very near-term outlook is neutral/bearish

Open interest in Gold futures markets rose by around 4.1K contracts on Tuesday, according to advanced readings from CME Group. In the same direction, volume reversed two consecutive pullbacks and went up by around 64.8K contracts.

Gold faces the next hurdle at $2,000/oz

Prices of the ounce troy of gold charted an inconclusive session on Tuesday amidst rising open interest and volume. Against this, further consolidation now looks on the cards, with the immediate target still at the key $2,000 mark per ounce.