Gold Futures: Further range bound on the cards

Open interest in gold futures markets rose for the 4^th consecutive session on Thursday, this time by nearly 4K contracts according to preliminary readings from CME Group. Volume, instead, shrank by around 4.1K contracts after two daily builds in a row.

Gold poised for extra consolidation

Gold charted an inconclusive session on Thursday on the back of rising open interest, which is supportive of the continuation of the consolidative mood around current levels. So far, the $1,615/20 band should offer decent contention in case of occasional bouts of weakness in the precious metal.