Gold Futures: Potential for further pullbacks

Traders added nearly 2.5K contracts to their open interest positions on Tuesday, resuming the uptrend as per advanced data from CME Group. On the other hand, volume shrunk by 36.3K contracts after three consecutive daily builds.

Gold: Short-term top in place?

Tuesday’s pullback in prices of the ounce troy of gold was accompanied by rising open interest, opening the door for a deeper correction in the near-term. That said, Friday’s 2020 high just below the $1,700 mark could be an interim top for the time being.