Gold Futures: Further rangebound likely

Open interest in gold futures markets rose for the second consecutive session on Monday, this time by around 1.3K contracts considering flash data from CME Group. Volume, on the other hand, extended the erratic activity and shrank by just 502 contracts.

Gold remains capped by $1,800

Gold prices extended the choppiness at the beginning of the week, always below the key $1,800 mark per ounce troy. Rising open interest, albeit marginally, allows for the continuation of this stance at least in the very near term.