Gold Futures: Further recovery not ruled out

Considering advanced prints from CME Group for gold futures markets, open interest resumed the uptrend and rose by around 13.4K contracts on Monday, reversing the previous daily drop. Volume, on the flip side, shrank for the second straight session, this time by around 36.4K contracts.

Gold points to some consolidation near term

Gold prices started the week on the positive foot amidst rising open interest, which suggests that further gains appear on the cards in the very near term. In the meantime, the yellow metal remains well underpinned by the key $2000 mark per ounce troy.