Futures for gold: Further Losses

According to early readings from CME Group, open interest in gold futures markets decreased by about 5.1K contracts following two consecutive daily gains on Monday. Following suit, volume decreased by about 90.1K contracts.

Gold: The initial level of support is around $1935
Shrinkage in open interest and volume as gold entered the week on the back foot serves as a warning against the very near-term continuation of the downturn. So far, weekly lows around $1935 per ounce troy seem to be supporting the precious metal (March 21, 22).