Gold Futures: cautious stance unchanged so far

Traders added almost 3.6K contracts to their open interest positions in Gold futures markets on Wednesday, as per estimated prints from CME Group. On another side, volume retreated for the second session in a row, now by more than 31K contracts.

Gold looks consolidative around $1,550/oz

Alternating risk appetite trends leave the short-term neutral bias unchanged around Gold for the time being. While the recent uptick in open interest suggests that further decline could be in the pipeline, the persistent decline in volume warns against this view.