Gold Futures: Rebound likely near term

CME Group’s flash data for gold futures markets noted traders scaled back their open interest positions for the second session in a row on Friday, this time by around 11.4K contracts. Volume followed suit and shrank by around 58.8K contracts.

Gold: Another visit to $1950 appears on the cards

Gold prices added to Thursday’s losses on Friday, although the daily pullback was on the back of diminishing open interest and volume, exposing a near-term rebound to, initially, the YTD highs around $1950 per ounce troy.