Gold Futures: Further rangebound on the cards

Open interest in Gold futures markets increased for the second session in a row on Tuesday, this time by around 7.2K contracts according to preliminary figures from CME Group. In the same line, volume went up markedly by around 120.3K contracts.

Gold remans side-lined above $1,900/oz

Prices of the ounce troy of Gold stick to the consolidative theme, still above the $1,900 mark, amidst rising open interest and volume. This scenario is expected to prevail in the near-term against the backdrop of alternating risk appetite trends.