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Gold Futures: Further losses unlikely

Traders trimmed their open interest positions for the primary time after two consecutive daily builds on Tuesday, this point by nearly 3K contracts as per flash data from CME Group. On the opposite hand, the quantity went up for the second session during a row, now by around 44.3K contracts.

Gold faces extra gains above $1,800
Gold prices briefly tested the $1,800 neighborhood on Tuesday before closing the day within the negative territory. The downtick was on the rear of shrinking open interest, leaving the prospects for extra downside diminished for the noncewithin the meantime, the $1,800 mark per ounce troy remains the subsequent target of note.

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