While gold has recovered from yesterday's spike-down move and has spent the overnight trade in positive territory, the charts have not reversed course and we suspect more declines ahead which in turn should pull down open interest.
In fact, it should be noted that the declines in gold have been accompanied by periodic jumps in trading volume which we think confirms the downward tilt.
While gold has seen outside market influence wain, treasury prices appear to be trending negative for gold, and we see the general impact from outside markets as bearish in the near term...[MORE]
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