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In light of estimated prints from CME Group, open interest and volume decreased by around 11.1K contracts and nearly 61.4K contracts, respectively, on Thursday.

Gold: Downside looks contained

Prices of the ounce troy of Gold gave some signs of exhaustion near $1,590 this week. Declining open interest and volume against the backdrop of declining prices, however, point to a probable bounce in the short-term horizon, although that hinges mostly on the developments from the Wuhan coronavirus and its (potential) impact on the global economy.