Traders cut their open interest positions for the first time after two consecutive daily draws on Tuesday, this time by nearly 3,000 contracts, according to instant data from the CME Group. On the other hand, volumes increased for the second session in a row, by about 44.3 thousand contracts.
Gold can generate additional profits in excess of $ 1,800.
Gold On Tuesday, prices briefly tested the $ 1800 area before closing the day in negative territory. The downturn was fueled by a decline in open interest, which has diminished the prospects for further declines for now. Meanwhile, the next target remains the level of $ 1,800 per troy ounce.