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Scope for short-term recovery

Open interest in the gold futures markets extended the downtrend for another session on Wednesday, this time by around 3.8K contracts based on preliminary values ​​from the CME Group. In the same line, the volume decreased for the second session in a row, now by around 159.6K contracts.

Gold appears near $ 1,780. to be supported

gold The courses fell on Wednesday for the fifth time in a row. The daily downtrick was due to the shrinking open interest and volume, leaving the door open for a short-term rebound. Even so, the $ 1,780 per troy ounce area still remains fairly decent support for occasional downward moves in the precious metal.

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