Gold Futures: Downside looks limited

CME Group’s advanced figures for Gold futures markets noted open interest shrunk for the third session in a row on Thursday, this time by more than 6K contracts. On the other hand, volume prolonged the choppiness seen as of late and increased by around 86.4K contracts.

Gold on its way to $1,660/oz

Prices of the ounce troy of the precious metal extended the decline on Thursday. Furthermore, the negative session in gold was on the back of shrinking open interest, leaving the prospects for extra losses somewhat capped and around the $1,660 per ounce (low April 21^st).