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Gold Futures: neutral/bearish near-term

In light of recent flash data for Gold futures markets from CME Group, open interest reversed four consecutive drops on Friday and rose by around 3.5K contracts. Volume, instead, drop for the second straight session, now by around 13.6K contracts.

Gold faces some consolidation

The ounce troy of the precious metal lost some ground in past sessions in tandem with easing US-Iran tensions, coming under selling pressure after surpassing multi-year peaks beyond the $1,600 mark. Choppy activity in both open interest and volume opens the door to further consolidation in the short-term horizon, with the main focus still on geopolitics and the US-China trade front.

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