Gold Futures: Further gains are not favoured
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Considering advanced prints from CME Group for gold futures markets, open interest shrank for the fifth consecutive session on Wednesday, this time by just 790 contracts. Volume followed suit and dropped by around 45.7K contracts.
Gold prices extended the weekly rebound on Wednesday amidst shrinking open interest and volume. Against that, the continuation of the recovery appears threatened and the yellow metal could recede to the area of recent lows around $1860 per ounce troy.
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