CME Group’s flash data for gold futures markets noted traders added nearly 3K contracts to their open interest positions on Tuesday, reversing the previous daily pullback. On the other hand, volume shrank for the second session in a row, this time by around 17.6K contracts.

Gold faces a minor hurdle around $1950

Gold prices reversed Monday’s retracement and advanced modestly to the $1930 region on Tuesday. The uptick was on the back of rising open interest and leaves the door open to the continuation of the rebound in the very near term. On the upside, the next resistance of note emerges around the $1950 mark per troy ounce.