Gold Futures: Rebound likely near term
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CME Group’s flash data for gold futures markets noted traders scaled back their open interest positions for the second session in a row on Friday, this time by around 11.4K contracts. Volume followed suit and shrank by around 58.8K contracts.
Gold prices added to Thursday’s losses on Friday, although the daily pullback was on the back of diminishing open interest and volume, exposing a near-term rebound to, initially, the YTD highs around $1950 per ounce troy.
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