Gold Bears Grow Weary as Options Ratio Drops to Three-Year Low
- Gold ETF put-to-call ratio seen at lowest since 2012
- Bullion has room to move higher on delayed rate hike: Samana
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Gold bears are finally showing signs of fatigue, if options trading is any indication.
The put-to-call ratio, or the number of bearish options trading compared with bullish ones, for SPDR Gold Shares is at the lowest since 2012, data compiled by Bloomberg show. The open interest on puts fell to the lowest since mid-July on Sept. 21, signaling bears may be losing their stranglehold on the market. SPDR is the world’s biggest exchange-traded product backed by gold.