Gold has surged 15% this month, nearing its best monthly performance since 2008. However, a significant bearish options trade in the SPDR Gold Shares ETF (GLD) suggests a short-term pullback is likely. A trader sold 116,000 in-the-money calls at a $420 strike and bought calls at a $430 strike, netting $58 million in credit, betting that gold prices will dip slightly from the current $427 level. This move contrasts with the broader bullish options activity and comes ahead of key economic events like the PCE inflation report and the Jackson Hole Symposium, which could influence gold's direction.
In August, gold prices surged nearly 15%, marking the best month since 2008, with the SPDR Gold Trust ETF (GLD) rising over 14%. Amid this rally, a trader sold a large call spread worth $202 million, betting that gold prices will stay below roughly $...
Gold and Bitcoin have both rallied recently as a trade against a weakening dollar, driven by concerns over fiscal strain and currency debasement. However, while gold has shown consistent gains over the past year, Bitcoin's performance remains volatil...
Gold prices have surged significantly over the past years, but investors holding SPDR Gold Trust (GLD) in taxable accounts face a higher tax rate of 28% on long-term gains, classified as collectibles, compared to 15-20% for equity ETFs. Additionally,...
