Gold Futures: Neutral/Bullish very near-term

Investors added just 139 contracts to their open interest positions in Gold futures markets on Monday, according to flash data from CME Group. On the other hand, volume extended the choppy activity and shrunk by around 34.3K contracts.

Gold stays capped by $1,800

Monday’s small uptick in Gold prices was amidst a marginal increase in open interest and a decent drop in volume. That said, while further consolidation remains oon the cards, some extra gains in the very near-term should not be ruled out. In the meantime, the $1,800 mark per ounce troy keeps capping the upside for the time being.