Gold’s open interest on Comex declines
Preliminary open interest on Comex fell a further 11,497 contracts yesterday, yet the price has held up above $3000 ahead of tomorrow’s option expiry. What does this mean?
Despite gold remaining close to all-time highs, the chart above shows Open Interest falling when reasonably it should be somewhat higher to reflect current bull market conditions. The next chart, which includes the price shows how the price tends to march on regardless of Open Interest on Comex:
