Gold Futures: Room for extra losses

Open interest in Gold futures markets rose for the third consecutive session on Thursday, this time by around 4.2K contracts according to preliminary figures from CME Group. Volume, instead, shrunk by around 33.2K contracts after two consecutive builds.

Gold could slip back to the $1,900 level

Prices of the ounce troy of the precious metalkept correcting lower on Thursday. The continuation of the leg lower was accompanied rising open interest, which remains supportive of a deeper pullback in Gold to, potentially, late August lows in the $1,900 neighbourhood.