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Traders scaled back their open interest positions in Gold futures markets by just 384 contracts on Tuesday in light of preliminary readings from CME Group. Volume, on the other hand, rose for the second session in a row, this time by around 70.4K contracts.

Gold looks cautious ahead of FOMC

Prices of the ounce troy of the precious metal close just above the $2,000 mark on Wednesday. The uptick, however, was amidst a small pullback in open interest. That said, Gold prices are seen on a cautious tone around the $2,000 area ahead of the publication of the FOMC minutes later on Wednesday.