Open interest in the gold futures markets fell by more than 1,000 contracts after three consecutive daily pullbacks on Monday, according to flash data from CME Group. On the other hand, the volume rose around 74,000 contracts after four daily drops in a row.
Gold seen between $ 1,960 – $ 1,850
Gold posted an inconclusive session earlier in the week amid growing open interest. That said, there is scope for further consolidation in the short term, probably between $ 1,960 and $ 1,850 per ounce.
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