Gold Futures: Door open for extra weakness

In light of preliminary readings from CME Group for gold futures markets, open interest went up by around 7.3K contracts on Tuesday. Volume followed suit and rose by around 83.6K contracts.

Gold faces interest support near $1,730

Gold prices charted new multi-week lows on Tuesday. The move was in tandem with rising open interest and volume, allowing for extra pullbacks in the very near term with interim target around the Fibo level of the March-June rally in the $1,730 area.