Gold Traders Take a Snooze as Volatility Drops to One-Year Low
- Market finds ‘short-term equilibrium,’ BMO’s Tai Wong says
- Futures trading volume at 35 percent below 100-day average
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Gold trading has gone quiet again as investors await the next clue on the timing of any U.S. interest-rate increase by the Federal Reserve.
The precious metal’s 30-day historical volatility has slumped to the lowest in a year. Aggregate trading in Comex futures was 41 percent below the 100-day average for this time, data compiled by Bloomberg show. Open interest, a tally of outstanding contracts, is down 13 percent from a record in July.