CME Group’s flash data for the gold futures markets showed traders added around 2.3k contracts to their open positions on Wednesday after four consecutive daily declines. Instead, volume remained choppy, falling about 3.5k contracts, partially paring the previous daily rise.
Gold: Next up on the downside is $1,900
gold Prices fell to fresh four-week lows near $1915 on Wednesday. The drop was due to rising open interest, suggesting the likelihood of another drop in the near future. However, the $1,900 a troy ounce area is proving to be the next area of contention for the yellow metal.
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