Gold Open Interest Touches 1-Month High in Sign of Durable Rally

Gold prices posted a third straight weekly gain, and at least one measure shows that the rally may still have further to run.

Open interest, a tally of outstanding contracts in Comex futures, rose to the highest in almost a month. The debate over whether the U.K. should exit from the European Union has dominated trader discussions, boosting demand for haven assets. Gold prices touched the highest in almost two years on Thursday, before a halt in campaigning on the U.K. vote eroded gains.

Gold Open Interest Touches 1-Month High in Sign of Durable Rally