Gold Futures: Correction lower remains on the cards

Open interest in Gold futures markets resumed the downside on Wednesday and went down by 5.3K contracts according to preliminary figures from CME Group. Volume, instead, rose for the second session in a row, this time by nearly 33.5K contracts.

Gold keeps looking to $2,000/oz

Gold clinched fresh all-time highs around $1,980 per ounce on Wednesday. The move, however, was accompanied by diminishing open interest, favouring the possibility of a correction lower in the near-term.