Gold Futures: Cautious trade looks likely

Traders increased their open interest positions in Gold futures markets for the second session in a row on Wednesday, this time by nearly 4.6K contracts according to advanced figures from CME Group. In the same line, volume rose sharply by around 134.5K contracts.

Gold faces potential consolidation

Gold prices charted an inconclusive session on Wednesday amidst rising open interest and volume. That said, the precious metal faces a probable consolidation in the very near-term, always below the October’s peak around $1,930 per ounce.