Gold Futures: Pullbacks look shallow

Investors trimmed their open interest positions by around 6.3K contracts on Tuesday in light of advanced data from CME Group. On the other hand, volume reversed four consecutive declines and rose by around 31.9K contracts.

Gold stays capped by 2020 highs

Tuesday’s pullback in the ounce troy of gold was amidst declining open interest, hinting at the likeliness that a deeper retracement appears unlikely, at least in the short-term horizon.