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Gold Futures: Further correction on the cards

CME Group’s flash readings for Gold futures markets showed traders added around 4.1K contracts to their open interest positions on Wednesday, recording the third build in a row. On the other hand, volume shrunk markedly by nearly 96.3K contracts.

Gold failed ahead of $1,580/oz

The multi-session recovery in Gold lost momentum in the $1,575/80 area per ounce troy, where sits a Fibo retracement of the December-January rally. Monday’s small uptick was on the back of rising open interest and a noticeable drop in volume, leaving odds for extra gains diminished in the near-term.

Russia’s Novak: Closely studying recommendations of OPEC+ technical committee

Russian Energy Minister Alexander Novak was on the wires in the last minutes, via Reuters, saying that Russia is closely studying recommendations of O
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China’s Adviser Zhong: Coronavirus situation improving in some provinces

Chinese Government Medical Advisor Zhong Nanshan said on Tuesday that China coronavirus situation improving in some provinces, with new diagnoses decl
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