Gold Futures: Scope for extra losses near term

liminary readings from CME Group. Volume, in the same line, resumed the downside and dropped by 19.3K contracts.The earlier move to the $1,750 region lacked followed through andprices ended Wednesday’s session marginally up. The move, however, was amidst shrinking open interest and volume and is indicative that further recovery is not favoured for the time being. That said, the next support emerges at the 100-day SMA, today at $1,711 per ounce troy.

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