CME Group’s flash data for gold futures markets noted traders extended the downtrend for yet another session on Tuesday, this time by just 121 contracts. Volume, instead, reversed two daily pullbacks in a row and increased by around 83.6K contracts.

Gold: A drop to $1800 starts shaping up

Price action around gold was inconclusive and advanced marginally on Tuesday. This move was against the backdrop of shrinking open interest and leaves the door open to the continuation of the decline with the immediate target at the key $1800 region per ounce troy.