Open interest in gold futures markets shrunk for the second session in a row on Friday, this time by more than 3K contracts according to flash data from CME Group. Volume, instead, extended the choppy activity and rose by 25.3K contracts.

GOLD FACES THE NEXT SUPPORT AT $1,800/OZ

Gold prices dropped to the $1,810 area and rebounded, although closed the session with small losses on Friday. The move was on the back of shrinking open interest, leaving the idea of further decline well on the table in the very near-term. Against this, the next support of relevance emerges at the key $1,800 mark per ounce.