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Open interest in Gold futures markets rose by around 4.5K contracts at the end of last week following 4 consecutive daily pullbacks, according to advanced figures from CME Group. On the other hand, volume shrunk by around 56.8K contracts, reversing three builds in a row.

GOLD FACES THE NEXT SUPPORT NEAR $1,745

Gold prices edged lower on Friday amidst rising open interest, allowing for further retracement in the very near-term. That said, the next contention emerges around the $1,750 area, where also coincides the 50-day SMA.

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