Gold Futures: Look consolidative near-term

In light of advanced figures for Gold futures markets from CME Group, open interest increased for the second straight session on Friday, now by around 13.8K contracts. On the opposite side, volume extended the choppy activity and shrunk by almost 36.2K contracts, partially offsetting the previous build.

Gold faces some consolidation

Prices of the ounce troy of Gold seem to have met some resistance to prolong the move further north of the $1,580/85 area. That said, inconclusive performance in both open interest and volume could favour some consolidative mood at current levels, always looking to headlines regarding the progress of the COVID-19 in the very near-term.