Gold Futures: Rebound in the offing?

CME Group’s flash data for gold futures markets noted traders trimmed their open interest positions for the second session in a row on Wednesday, this time by more than 3K contracts. Volume followed suit and dropped for the third straight session, now by around 61.6K contracts.

Gold: Further gains lies beyond $1930

Gold prices charted the third consecutive daily pullback on Wednesday. The leg lower was amidst shrinking open interest and volume and leaves the door open to a potential near-term rebound with the immediate target at recent peaks near $1930 per ounce troy.