Gold Futures: Scope for further decline

Considering advanced prints from CME Group for gold futures markets, open interest rose for the third session in a row on Wednesday, this time by nearly 6K contracts. Volume followed suit and added around 54.4K contracts to the previous daily build.

Gold: Next on the downside comes $2000

Gold prices reversed two daily sessions with gains on Wednesday. The downtick was amidst rising open interest and volume and leaves the door open to further correction in the next sessions. The next level of note on the downside is the key $2000 mark per ounce troy.