NEW YORK (MarketWatch) -- Gold futures were higher on Friday, marking a fifth consecutive session of gains, as this week's upbeat economic data encouraged more investors to take risks as the dollar hit its weakest levels of the year.
Gold for December delivery, the most actively traded contract, fell 4 cents to $72.44 a barrel, it has gained nearly 1% this week and hit an 18-month high at $1,013.50 an ounce on Thursday.
Gold open interest, or contracts to buy or sell gold that have not been closed, rose another 3,764 contracts to 478,172 on the Comex, suggesting that the gold rally has further room to run, according to GoldCore analysts.
"Many traders are likely looking for gold to reach new record highs prior to 'selling on the news' and taking profits," they said.
