Open interest in Gold futures markets shrunk by nearly 6.8K contracts on Wednesday, according to preliminary figures from CME Group. On the other hand, volume rose for the second consecutive session, this time by around 100.5K contracts.

GOLD: CORRECTIVE DOWNSIDE IS ON THE CARDS

The ounce troy of the precious metal keeps pushing higher and recorded another all-time high above $2,050 on Wednesday. The uptick, however, was amidst declining open interest, indicative that further upside in Gold could be running out of steam in the very near-term.