Gold Futures: Scope for extra decline

Open interest in Gold futures markets rose by just 837 contracts on Tuesday, partially reversing the previous day drop according to flash data from CME Group. In the same line, volume went up by around 8.1K contracts.

Gold could retest $1,760

Gold prices started the week on a negative footing. Tuesday’s pullback was amidst rising open interest and volume, indicative that extra downside lies ahead and with the next target at the $1,760 mark per ounce troy.