Gold Glitters and AI Sizzles

Gold(en) volatility

Earlier this week (here) we outlined the logic for playing gold via options. We wrote: "If you think gold is about to break up from here, play it via options. Gold volatility has come down over the past weeks. We find call spreads attractive for a potential break out. Relatively cheap upside optionality, and if gold takes off, volatility should get well bid as well." Fast forward to today and the shiny metal is breaking up...and gold volatility is catching bids. Chart shows gold vs GVZ.